Quess Corp (Quess) has entered into a definitive agreement to acquire 45% stake in Simpliance Technologies (Simpliance). The company’s investment is focused on helping develop and ramp-up the Simpliance technology platform which is aimed at providing a one stop comprehensive solution for meeting the labour compliance requirements of corporates.
Simpliance is a Bengaluru based compliance technology firm headed by Anil D’Souza, an ex-Naval officer with a strong technology background and experience in the field of human resources and labour compliance. The technology platform developed by Simpliance has been piloted at corporates and staffing companies with successful results.
Simpliance will continue to be managed by the existing Key Management Personnel headed by Anil D Souza. Quess will pay a consideration of Rs 2.5 crore as fresh equity for a 45% stake and the investments will be used to enhance the existing platform. Closing of the transaction is subject to, fulfillment of certain conditions precedent set out in the agreement between the parties to the satisfaction of Quess, and statutory and regulatory approvals.
| Company Name | CMP |
|---|---|
| Quess Corp | 223.20 |
| SIS | 384.55 |
| TeamLease Services | 1342.00 |
| Bluspring Enterprise | 67.80 |
| Updater Services | 167.10 |
| View more.. | |
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