Hinduja Global Solutions (HGS) announced that its daughter company Hinduja Global Solutions UK Limited has bought out 57% stake in Element Solutions, which is a digital consulting services company for a $5 million consolidation. The deal is scheduled to be completed in 15 days and will serve to improve the digital marketing and digital experience service of the firm.
“Hinduja Global Solutions UK Ltd has today entered into a definitive agreement to acquire 57 per cent equity stake in Element Solutions LLC, USA… Post-acquisition, HGS 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,” HGS Chief Executive Officer Partha DeSarkar said.
Element Solutions is a firm that provides services such as high-end digital strategy and solutions, data-driven marketing and cloud managed services to its customers. It boasts more than 160 digital engagements, and supports over 35 top Fortune 500 brands, primordially in the sectors of healthcare, manufacturing and retail industries.
“As part of our strategy to drive digital-led transformation for clients, HGS has been investing significantly in technology and solutions to re-imagine customer experiences. The investment in Element Solutions expands on this strategy and helps position us as an end-to-end digital transformational leader who can impact the entire customer lifecycle for brands,” Partha DeSarkar, CEO of HGS said.
The Element Solutions deal comes as an assistant to HGS Interactive (HGSi) in consolidating its Buy-side portfolio by adding new aptitudes and expertise in customer digital experience and digital marketing. HGS is also looking forward to welcome the corresponding client base that will follow from the Element acquisition which will significantly help asserting HGSi’s onshore presence. After acquiring the company, HGS will also add 75 members to its team, which will include strategic thinkers, digital marketers, user-centric designers, software engineers and developers consisting of 33 Americans and 42 Indians.
“I am pleased to welcome the talented team of Element to the HGS family and look forward to leveraging their expertise to drive higher value,” said CEO DeSarkar.
HGSi is described as an innovative, global digital agency which provides international brands a full arsenal of digital solutions which includes digital marketing, social CRM and web/mobile apps to several reputable clients in CPG, hospitality, BFSI and e commerce. The company boasts a workforce exceeding 150 individuals, based predominantly in Mumbai.
Furthermore, HGS publicized this week that its daughter company in the US would acquire AxisPoint Health for a reported fee of $14 million to broaden the services they offer in clinical services.