Quess Corp, an integrated business services provider, has signed definitive agreements to buy MonsterIndia and its business in South East Asia and the Middle East from Monster Worldwide Inc and the Care Business of HCL Services from HCL Infosystems.
The transactions are expected to close in the next few weeks, subject to the fulfilment of customary closing conditions and statutory approvals.
Monster, a leading online career and recruitment resource with its cutting-edge technology, provides relevant profiles to employers and relevant jobs to job-seekers across industry verticals, experience levels and geographies.
The acquired business has operations across India, Singapore, Malaysia, the Philippines, Hong Kong, Vietnam, Thailand, Indonesia, the UAE and Saudi Arabia. With 65 million registered users, over 80 million resumes and with 800,000 monthly new registrations, the company is amongst the market leaders in the online recruitment space across each of its operating geographies.
The Care Business of HCL Services is one of the leading after-sales services providers for product categories such as mobile phones, consumer electronics and consumer durables in the customer lifecycle management space. It has an extensive service network across the country and provides end to end support services with more than 80 walk-in-centres and 200 authorised service providers. It has strong relationships with leading smartphone makers and consumer durables companies with over 2 million repairs annually.
Ajit Isaac, Chairman and Managing Director of Quess Corp, said , “We are excited to announce two major acquisitions: Monster’s businesses across India, SE Asia & the Middle East, and the Care Business of HCL Services. The acquisition of Monster is aligned with our ‘Digital First strategy for Business’ and is a strategic investment in that direction whereas the acquisition of Care Business marks our entry into the high growth break-fix market for smart phones, consumer electronics and consumer durables with pan India presence.
“While the Monster acquisition complements Quess’s market leading presence in the HR services space by establishing end-to-end offerings across the Employee Lifecycle Management space, the acquisition of Care Business will augment our services capability in the Customer Lifecycle Management space. Both the investments are typical of our philosophy of backing strong management teams and finding them a permanent home in Quess while creating long term value for our shareholders and clients”.