Latest News | Aparajitha Corporate Services to Acquire Labour Law Compliance Biz from Allsec

Chennai, Feb 7 (PTI) Regulatory and social compliance service providers Aparajitha Corporate Services Pvt Ltd on Wednesday said it would acquire the 'labour law' compliance business from Allsec Technologies at an Enterprise Value of Rs 27 crore.

The acquisition expected to close by March 31, is aimed at further enhancing the market leadership position in the compliance solutions segment.

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"The deal is valued at an Enterprise Value of Rs 27 crore, on a cash and debt-free basis, subject to closing adjustments and fulfillment of conditions set in the transaction document." a company statement here said.

Commenting on the deal, Aparajitha Managing Director Nagaraj Krishnan said, "This transaction will strengthen our comprehensive regulatory and social compliance solutions, best-in-class services combined with digital tools and consolidate our position as the leader in compliance services."

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For Allsec Technologies, the transaction is part of the broader company strategy to exit from the Labour Law compliance business.

"The transaction will lead to simplification of the operating structure and enable sharper management focus on our higher margin growth businesses - Customer Experience Management and Employee Experience Management, thus optimizing future business results of the company," Allsec Technologies CEO Naozer Dalal said.

"We look forward to partnering with Aparajitha, to provide a seamless transition experience to our customers, many of whom we will continue to associate with for our other services," Dalal added.

(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)