WNS to acquire Marketics Tech

By siliconindia   |   Tuesday, 13 March 2007, 17:30 IST
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NEW DELHI: Offshore BPO services provider WNS (Holdings) Limited has announced its intent to buy Marketics Technologies, a privately-owned leader in offshore analytics services. The acquistion, valued at approximately $65 million in cash, would enhance WNS' Knowledge Services business, which provides market research, business and financial research and analytics services. The deal, that was declared in a non-binding letter of intent, includes a $30 million payment at the time of the closing and an earn-out of up to $35 million over a 12-month period. WNS expects to finance the transaction primarily through existing cash and cash equivalents. If completed, WNS will gain approximately 200 Marketics employees, including 170 in Bangalore and 30 in Coimbatore. "After four years of significant growth and establishment of our leadership position in offshore analytics, we are ready for bigger things," said Neeraj Bhargava, WNS Group chief executive officer adding that Marketics had, in a very short time, built a world class company focused on offshore analytics.This acquisition, when completed, will enhance WNS's Knowledge Services leadership, and help penetrate new consumer-centric industries like travel, banking, financial services and insurance and allows WNS to expand in emerging industries like consumer goods, media and entertainment, retail and professional services. The acquisition is subject to due diligence and execution of definitive documentation (with customary closing conditions, such as regulatory approvals) and is expected to be closed within the next 90 days.