Hinduja Global Solutions (HGS) has signed a non-binding Letter of Intent (LoI) to acquire uKnowva, a digital human resources management system (HRMS) product business, from Convergence IT Services, subject to necessary diligence and approvals.
uKnowva is a user-friendly cloud-based software-as-a-service (SaaS) platform. The cost-effective platform uses intelligent software to deliver human capital management, automation and collaboration for midsize and growing companies.
This acquisition is part of HGS’ attempt “to build an end-to-end ecosystem of innovative solutions that support every touchpoint in the consumer journey.”
In line with its ongoing evolution into a digital-led, people-driven customer experience (CX) services provider, HGS has also begun the process of acquiring TekLink International to strengthen HGS’ analytics practice and expand platform and data visualisation capabilities.
In the words of Partha DeSarkar, Group CEO, HGS, “HGS has been investing significantly in developing technology-led capabilities to reimagine the CX journey for our clients in an increasingly digital first world. TekLink and uKnowva, with their transformative solutions in the analytics and financial planning and HR technology segments, respectively, are a good strategic fit for us”.
He is confident that the two acquisitions “will help us strengthen our existing digital portfolio substantially, expand in new rapidly growing segments, co-create solutions, and cross-sell to clients”.
Headquartered in the US, TekLink International is a full-service financial planning and analytics service provider, including design, implementation, and application management services. It has strong presence in Europe and delivery centres in Hyderabad and Indore, in India.
On the other hand, uKnowva has 75+ employees in India supporting over 3,00,000 users across 80+ clients. The acquisition of uKnowva, once completed, will create technology synergies with HGS’ existing HRO/ payroll and finance and accounting (F&A) business that supports several hundred clients with mainly HR operations-related activities in India and the Middle East today.