Hinduja Global Solutions (HGS) has entered into a definitive agreement to sell its India domestic customer relationship management (CRM) business to Altruist India for Rs 40 crore. The company intends to consolidate their product offerings and focus on high-margin/premium services. The amount of cash consideration for the transfer shall be approximately Rs 40 crore, subject to adjustments as amount or otherwise share per the definitive agreement. In addition, the proceeds from working capital will accrue to the company. The transaction is expected to close by January 31, 2020 and is subject to necessary approvals.
The CRM business primarily comprises voice-based contact centre services and some non-voice services to domestic customers.
HGS is a global leader in business process management (BPM) and optimizing the customer experience lifecycle, HGS is helping make its clients more competitive every day.
