WNS acquires two European cos for USD 156 mn

Business process management company WNS on Friday announced two acquisitions on which it will be cumulatively spending over USD 156 million (about Rs 1,290 crore).

Both the companies -- The Smart Cube (TSC), which is into platform-driven research and analytics, and Optibuy, which provides procurement platform consulting and implementation solutions -- are complementary to WNS' existing offerings, as per a statement.

TSC, a British company, has been acquired for USD 125 million, while the overall consideration for Optibuy is Euro 30 million (over USD 31 million), it added.

The NYSE-listed WNS, which employs a bulk of its workforce in India, said it has funded the up-front payments for these acquisitions with a combination of cash on hand and 83 million pounds of long-term debt. The TSC buy is expected to add approximately USD 9 million to WNS' net revenue in FY23, while Optibuy will give USD 2 million, the statement said. ''Both of these companies possess unique, digitally-led/human intelligence capabilities which are complementary to WNS' existing procurement and analytics offerings, and are also complementary with each other,'' WNS' chief executive Keshav Murugesh said.