UDS acquires 75 pc stake in Matrix Business Services

Facility management services firm UDS Wednesday said it has acquired 75 per cent stake in business assurance and background verification services company Matrix Business Services for an undisclosed sum. "This acquisition includes buying out the entire 19.77 per cent stake of Kotak Mahindra Investments and 2.67 per cent of Mahindra & Mahindra Contech and the balance 52.56 per cent from other shareholders, mainly from all the non-executive shareholders," the company said in a statement.

Veda Corporate Advisors acted as the sole financial advisor to this transaction, it added. UDS said the acquisition of Matrix will expand its broad range of business services even further and position the company as a complete business services group in the country.