WNS Signs Letter of Intent to Acquire Marketics Technologies
March 07 2007 - 8:00AM
Business Wire
WNS (Holdings) Limited (NYSE: WNS), a leading provider of offshore
business process outsourcing (BPO) services, announced today a
non-binding letter of intent to acquire Marketics Technologies, a
privately-owned leader in offshore analytics services, for a total
enterprise value of approximately $65 million in cash. If
completed, the acquisition is expected to enhance WNS� Knowledge
Services business, which provides market research, business &
financial research and analytics services. Knowledge Services works
with clients across the company�s industry specializations in
travel, banking, financial services and insurance and allows WNS to
expand in emerging industries like consumer goods, media &
entertainment, retail and professional services. "Marketics, in a
very short time, has built a world class company focused on
offshore analytics. This acquisition, when completed, will enhance
our Knowledge Services leadership, help us penetrate new
consumer-centric industries, and move us further up the value chain
in our service offering,� said Neeraj Bhargava, WNS Group chief
executive officer. WNS expects to acquire Marketics for up to $65
million, including a $30 million payment at the time of the closing
and an earn-out of up to $35 million over a 12-month period. WNS
expects to finance the transaction primarily through existing cash
and cash equivalents. If completed, WNS will gain approximately 200
Marketics employees, including 170 in Bangalore, India and 30 in
Coimbatore, India. �After four years of significant growth and
establishment of our leadership position in offshore analytics, we
are ready for bigger things. WNS provides us the best platform to
accelerate our growth and achieve our goal of creating innovative
and market leading analytic solutions. The cultural fit with WNS is
excellent and their financial strength, customer access,
infrastructure and recruiting capabilities will be a tremendous
boost for our business,� said Sreenivasan Ramakrishnan, co-founder
and chief executive officer of Marketics Technologies. The
acquisition is subject to due diligence and execution of definitive
documentation (with customary closing conditions, such as
regulatory approvals) and is expected to be closed within the next
90 days. No assurance can be given that definitive documents will
be executed or that the acquisition will be completed. About
Marketics Founded in 2003, Marketics Technologies, a leader in
marketing analytics, provides revenue-enhancing solutions that
increase marketing effectiveness and return on marketing investment
for the world's leading marketers. Analytics solutions cover the
entire marketing continuum, including customer acquisition,
retention, cross-selling, loyalty, brand management, campaign
management and market research. Marketics operates in data rich and
information poor situations and generates actionable insight from
data by leveraging cutting-edge analytics skills. Marketics is
headquartered in Bangalore, India. For more information, please
visit www.marketics.com. About WNS WNS is a leading provider of
offshore business process outsourcing, or BPO, services. We provide
comprehensive data, voice and analytical services that are
underpinned by our expertise in our target industry sectors. We
transfer the execution of the business processes of our clients,
which are typically companies located in Europe and North America,
to our delivery centers located primarily in India. We provide
high-quality execution of client processes, monitor these processes
against multiple performance metrics, and seek to improve them on
an ongoing basis. WNS ADSs are listed on the New York Stock
Exchange. For more information, please visit our website at
www.wnsgs.com Safe Harbor Statement under the provisions of the
United States Private Securities Litigation Reform Act of 1995 This
release contains �forward-looking statements� that are based on our
current expectations, assumptions, estimates and projections about
our company and our industry. The forward-looking statements are
subject to various risks and uncertainties. Those statements
include estimates of the size, timing and benefits of the proposed
acquisition and future plans of the company. We caution you that
reliance on any forward-looking statement involves risks and
uncertainties, and that although we believe that the assumptions on
which our forward-looking statements are based are reasonable, any
of those assumptions could prove to be inaccurate, and, as a
result, the forward-looking statements based on those assumptions
could be materially incorrect. These factors include but are not
limited to: technological innovation; telecommunications or
technology disruptions; future regulatory actions and conditions in
our operating areas; our dependence on a limited number of clients
in a limited number of industries; our ability to attract and
retain clients; our ability to expand our business or effectively
manage growth; our ability to hire and retain enough sufficiently
trained employees to support our operations; negative public
reaction in the U.S. or the U.K. to offshore outsourcing;
regulatory, legislative and judicial developments; increasing
competition in the business process outsourcing industry; political
or economic instability in India, Sri Lanka and Jersey; worldwide
economic and business conditions; our ability to successfully
consummate strategic acquisitions; and other risks described from
time to time in our SEC filings, including our registration
statement on Form F-1 (No. 333-135590) filed on July 3, 2006, as
amended.
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