Quess Corp acquires majority stake in TBSS for Rs 153 crore

Quess Corp said it has signed a pact with Tata Sons and Tata Capital to acquire 51 per cent stake in Tata Business Support Services (TBSS) for up to Rs 153 crore in cash.

Tata Sons will hold the remaining 49 per cent stake in the company, Quess said in a filing to BSE.

The deal is to be completed by December 31, it added.

Quess Corp Chairman and MD Ajit Isaac said: "We are excited about our partnership with the Tata Group. This investment marks a significant milestone for Quess in its journey to build a world class business services platform."

TBSS is among India's premier customer experience management companies, with over 10 years of sectoral expertise, Quess Corp said.

"The addition of Quess will further expand the company and let it continue to grow from strength to strength," TBSS Chiarman and Tata Capital MD Praveen Kadle said.

The Quess stock closed at Rs 865.95, up 5.71 per cent, on BSE.