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Hinduja Global Solutions Ltd (HGS), a digital-led, people-driven customer experience (CX) services provider, has signed a definitive agreement to acquire 100% stake in TekLink International Inc, for a consideration of $58.49 million.

The board of directors of HGS CX Technologies Inc., US, a step-down subsidiary of the company, approved the acquisition of Teklink International Inc, US, on December 7.

The transaction with the TekLink is expected to close by February 2023, according to Hinduja Global.

TekLink International Inc, is a full-service financial planning and analytics service provider, including design, implementation and application management services.

The board of HGS Global also granted in-principle approval for the acquisition of uKnowva, a Cloud-based HRMS business to expand its HR Platform technology portfolio. HGS has signed a non-binding Letter of Intent (LoI) to take over uKnowva from Convergence IT Services Ltd.

uKnowva is a Cloud-based SaaS platform that is easy to use, cost effective and leverages intelligent software to deliver human capital management, automation, and collaboration for midsize and growing companies.

Hinduja Global believes that both the target companies are a good strategic fit for them and will help strengthen their existing digital portfolio substantially and expand in new, rapidly growing segments, co-create solutions and cross-sell to clients.

Additionally, the board of directors is expected to meet on December 19, 2022, to finalise the terms of the proposed share buyback, HGS informed.

Shares of Hinduja Global ended 0.4 percent higher at Rs 1,354.