Quess Corp, an integrated business services provider, has signed a definitive agreement with Tata Sons and Tata Capital to acquire a 51 per cent stake in Tata Business Support Services (TBSS) for upto Rs 153 crore. Tata Sons will hold the remaining 49 per cent.

The transaction is expected to close in the next few weeks and following the conclusion of the deal, the company is also expected to rebrand itself, the company said in a statement.

“This investment marks a significant milestone for Quess in its journey to build a world class business services platform. We are confident that TBSS’ digital capabilities and roster of marquee clients will help us further grow this platform,” said Ajit Isaac, Chairman and Managing Director of Quess Corp.

“Customer Experience (CX) has been a key focus area for us and will continue to see further investments from our side. This acquisition is in line with our investment philosophy of backing great management teams and creating superior long-term value for our shareholders,” he added.

Hyderabad-headquartered TBSS is a CX management company, with over 10 years of sectoral expertise. The company serves diverse third-party clients in the BFSI, auto & manufacturing, telecom & media, retail and in emerging industries, in India and abroad. It employs about 27,000 personnel.

“The Tata group has nurtured TBSS over the last 10 years over which time, it has grown to become a significant CX solution provider in the Indian business process outsourcing industry. The addition of Quess will further expand the company and let it continue to grow from strength to strength,” Praveen Kadle, Chairman of TBSS and Managing Director of Tata Capital, said.

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