Latest News | Allsec Technologies to Merge with Quess Corp in All Stock Deal

New Delhi, Jun 22 (PTI) Business process outsourcing firm Allsec Technologies will merge with technology-enabled staffing and outsourcing services firm Quess Corp in an all-stock deal, the companies said in a joint statement on Wednesday.

Upon the scheme becoming effective, all the subsidiaries of Allsec will become subsidiaries of Quess.

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"The Board of Directors of Allsec Technologies and Quess Corp in their respective meetings held on June 22, 2022, have approved the Scheme of Amalgamation which inter alia provides for the merger of Allsec into Quess (Scheme)," the joint statement said.

Public shareholders of Allsec will receive 74 shares of Quess for every 100 shares held in Allsec.

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Allsec, with more than 400 clients across 37 countries, is a global leader in outsourcing solutions with expertise in providing digital business services and human resource outsourcing services.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)