BLS International Services’ arm signs definitive agreement to acquire 100% stake in iDATA

16 Jan 2024 Evaluate

BLS International Services’ (BLS) wholly owned subsidiary -- BLS International FZE, UAE has entered into a definitive Share Purchase Agreement to acquire 100% stake in iData Danismanlik Ve Hizmet Dis Ticaret Anonim Sirketi (iDATA) and its wholly owned subsidiaries for an Enterprise Value of Euro 50 million (Rs 450 crore) and additional milestones based payments. iDATA, a prominent player based in Turkey, specializes in Visa and Consular Services, making it a strategic addition to BLS's expanding portfolio.

Incorporated in Turkey, iDATA provides comprehensive visa applications and consular services to various governments. The company currently operates more than 37 Visa Application Centres (VAC) across 15+ countries, serving diplomatic missions of Germany, Italy and the Czech Republic. Notably, iDATA has been the exclusive provider of Visa & Consular Services to the Italy Diplomatic mission since 2006 and the German Government since 2012 in certain geographies.

The acquisition would be funded mainly through our internal accruals. Further, the transaction will be EPS accretive from day one and is anticipated to be completed in the current financial year, subject to Government & Regulatory approvals.

BLS International Services is a part of the four decades old BLS Group with a global presence and diversified range of services in polymers and petrochemicals, education, electronics, asset management, visa processing and management consulting.


BLS Internatl.Serv Share Price

477.40 -5.20 (-1.08%)
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