The compliance service provider takes up 76% equity stake in Simpliance
Aparajitha Corporate Services Private Limited, India’s leading compliance service provider recently announced the acquisition of a strategic 76% equity stake in Simpliance Technologies Private Limited. As per the statement released by the company, it intends to integrate and merge the operations by offering Simpliance promoters and other shareholders equity shares in Aparajitha as part of the transaction. The official statement further added that the deal is valued at an Enterprise Value of Rs 120 crores, on a cash and debt-free basis, subject to closing adjustments and fulfilment of conditions set out in the transaction documents.
Aparajitha MD Mr Nagaraj Krishnan commented on the transaction: “The combination with Simpliance will enable us to offer comprehensive compliance solutions – best-in-class services combined with digital tools and emerge as the undisputed leader in the LEI Compliance segment. We welcome Anil and his team and intend to emerge as technology and data-oriented compliance solution provider with strong regulatory domain expertise in India and other regions.”
It must be noted that after the acquisition of the business / select assets of Comply India Tech Services Private Limited in June 2022, this is the second acquisition by Aparajitha in the last four months. The acquisition will come into effect only after the completion of closing actions and receipt of regulatory approvals.
“Being a part of the Quess family since 2016 has helped us to build scale, leveraging the Quess’ platform and their management expertise. We look forward to partnering with Aparajitha Corporate Services, to seamlessly integrate our SaaS Offerings to create holistic bundled products for our customers across the value chain,” said Simpliance CEO, Lt Cdr Anil Prem D’Souza.
A subsidiary of Quess Corp Ltd, Bangalore-Headquartered Simpliance claims to be amongst the top three LEI compliance solution providers in India. It provides a leading software-as-a-service (SaaS) offering in this segment with a subscription-based revenue model.
Aparajitha is a leading compliance service provider in India focused on Labour, Employee and Industrial (LEI) and Environment Health and Safety (EHS) related compliance services. It is part of Xcelerate Pte Ltd, a Singapore-headquartered GRC / ESG operating and investment platform. Over 1,500 employees strong Aparajitha claims to have a pan-India presence and deep domain expertise in Central and State laws pertaining to LEI and EHS regulations.