HGS Completes Acquisition Of Majority Stake In Element Solutions
2018-04-04 Merger and Acquisitions ICT Service International
Hinduja Global Solutions Limited (HGS), announced that its subsidiary Hinduja Global Solutions UK Limited has completed the acquisition of 57 percent equity stake in Element Solutions LLC, USA, a digital consulting services company, for a consideration of US$ 5 million.
Element Solutions provides high-end digital strategy and solutions in customer digital experience, data-driven marketing and cloud managed services areas. With over 160 successful digital engagements, the company supports more than 35 top Fortune 500 brands, primarily in the healthcare, manufacturing and retail industries.
The acquisition of Element will help HGS Interactive (HGSi), HGS’ digital services division, to strengthen its Buy-side portfolio by adding new capabilities and expertise in customer digital experience and digital marketing. It will also bring together a complementary client base across sectors and add significant onshore presence for HGSi. The company will add over 75 employees comprising strategic thinkers, digital marketers, user-centric designers, software engineers and developers, of whom 33 are in the US and the rest in India.