Accel acquires IT Services Business of Ensure Support Services India

03 Mar 2021 Evaluate

Accel has acquired the IT Services Business comprising IT Infrastructure Management Services, Warranty Management Services and eWaste Management Services of Ensure Support Services India. After this transaction, all the existing businesses of Ensure Support Services will be run under Accel, as Accel IT Services. Earlier, on July 31, 2020, Accel had acquired Ensure Support Services from Redington India in an all cash deal, thereby making it a wholly owned subsidiary of Accel.

As the integration of Ensure Support's IT Services business along with Accel’s IT Services business will bring synergies, the Board has approved the purchase of the IT Services business of Ensure Support, effective from August 1, 2020 as slump sale. The transfer of business has been done in such a way that the entire business along with its assets, customer base, contracts and employees will be transferred to Accel as a going concern basis. The new business will be known as Accel IT Services, which will be a division of Accel.

Accel currently operates through three business divisions namely, Systems and Services, Ushus Technologies and Accel Animation Studios. The product range of the division is a combination of custom-built hardware and application software.

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