Quess Corp has received approval for acquisition of additional 8% equity in Simpliance Technologies (Simpliance). With the additional 8% equity, the company’s stake in Simpliance increases from 45% to 53% and Simpliance will become subsidiary of Quess Crop post completion of the transaction.
Simpliance is a digital labor law compliance management tool that helps organization to comply, manage and monitor the health and risk status of labor legislation in the organization. The nature of consideration is on cash basis and the cost of acquisition is Rs 2 crore.
Quess Corp is one of India’s leading integrated business services providers focused on emerging as the preferred partner for handling end-to-end business functions of its clients.
