WNS will gain 30 Marketics employees in Coimbatore
WNS Signs Letter of Intent to Acquire Marketics Technologies,
WNS (Holdings) Limited WNS, a leading provider of offshore business process outsourcing (BPO) services, announced today a non-binding letter of intent to acquire Marketics Technologies, a privately-owned leader in offshore analytics services, for a total enterprise value of approximately $65 million in cashIf completed, the acquisition is expected to enhance WNS' Knowledge Services business, which provides market research, business & financial research and analytics services. Knowledge Services works with clients across the company's industry specializations in travel, banking, financial services and insurance and allows WNS to expand in emerging industries like consumer goods, media & entertainment, retail and professional services.
"Marketics, in a very short time, has built a world class company focused on offshore analytics. This acquisition, when completed, will enhance our Knowledge Services leadership, help us penetrate new consumer-centric industries, and move us further up the value chain in our service offering," said Neeraj Bhargava, WNS Group chief executive officer.
WNS expects to acquire Marketics for up to $65 million, including a $30 million payment at the time of the closing and an earn-out of up to $35 million over a 12-month period. WNS expects to finance the transaction primarily through existing cash and cash equivalents. If completed, WNS will gain approximately 200 Marketics employees, including 170 in Bangalore, India and 30 in Coimbatore, India
