Home / Companies / News / Quess Corp to sell its stake in Simpliance Technologies for Rs 120 crore

Quess Corp to sell its stake in Simpliance Technologies for Rs 120 crore

Aparajitha, a Human Resource compliance service firm from Madurai, Tamil Nadu, along with its affiliates would take over a 53 per cent stake in Simpliance from Quess Corp.

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While we continue to pursue our corporate structure simplification process, we will ensure significant value unlocking from the investments made since our Initial Public Offering (IPO),” Quess Corp said in a press release.

Sourabh Lele New Delhi

3 min read Last Updated : Oct 07 2022 | 12:29 AM IST

Staffing and outsourcing service provider Quess Corp Ltd on Thursday announced that it has entered into definitive agreements with Aparajitha Corporate Services to divest its stake in digital risk and compliance service company Simpliance Technologies.

Aparajitha, a Human Resource compliance service firm from Madurai, Tamil Nadu, along with its affiliates would take over a 53 per cent stake in Simpliance from Quess Corp.

The deal is valued at an enterprise value of Rs 120 crore, on a cash and debt-free basis, subject to closing adjustments and fulfilment of conditions set out in the transaction document.

“For Quess, a strategic investment

Topics : Quess Corp Stake sale Human Resources Divestment

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