Bandhan Group Expands into IT with Genisys Group Acquisition

The Bandhan Group has formally ventured into the IT space through this acquisition of the Genisys Group. Genisys Group is a service provider that offers IT services in addition to business process outsourcing. Services they provide include digital application lifecycle management, cloud-native solutions, data management, digital media operations, and business process outsourcing. It will be a strategic move for Bandhan Group in terms of entering into the fast-moving IT landscape that is also fast-evolving.

“By integrating Genisys Group’s offerings, Bandhan Group will add to its portfolio an integrated portfolio of solutions, including digital transformation, data analytics, cloud services, digital media operations, and smart business process solutions across various industries worldwide”, reports said.

Arvind Agrawal, Managing Director of Bandhan Financial Services, stated, “The ongoing global disruptions driven by digital transformation via hyper-automation, artificial intelligence, cloud computing, and other emerging technologies are reshaping the IT industry. We recognized an opportunity to acquire Genisys Group”.

Genisys Group’s service portfolio spans digital application lifecycle management, cloud native solutions, data management, digital media operations and business process outsourcing, catering to various industry segments.

Bandhan Financial Services Limited(BFSL) is the promoter entity of Bandhan Financial Holdings Limited and Bandhan Bank Limited. This was established on August 3, 1995. BFSL has been registered as an NBFC-NDSI-CIC with Reserve Bank of India and holds a predominant investment focus. Both Bandhan AMC and Bandhan Life are step-down subsidiaries of BFSL.