ANI PR Wire
18 Jan 2023, 11:00 GMT+10
Chennai (Tamil Nadu) [India], January 18 (ANI/PRNewswire): Updater Services Limited ('UDS'), a Chennai-based business support services firm, today announced that it has acquired a controlling interest in Athena, a BFSI tele sales BPO. This acquisition will add to UDS' competencies in the business services space, and also drive synergies between other portfolio companies of the group. The investment will also enable Athena's geographical expansion and help it turn global in its outlook.
Incorporated in 1993, Athena is a BPO service provider across the BFSI segment, and also has a presence in consumer and telecom verticals. The company has demonstrated capabilities in business development across multiple products.
Speaking about this investment, Raghunandana Tangirala, [Founder, CEO and Managing Director] of Updater Services, said, "Athena is a growing organization, catering to one of the high growth industries, with its wide range of products, driving results for its clients. We are thrilled to partner with a credible player in this field. UDS believes in driving growth through strategic partnership and in Athena, we have found a partner that will help us capture the growing tele sales industry potential."
Elizabeth Jacob, Founder and MD of Athena, said, "UDS' investment in Athena is a testament to the focused and customer centric company that we have built with our team, service portfolio, client relationships, and ability to generate growth. This also reflects our future and ability to deliver results. We are excited to welcome UDS on board as their experience in scaling companies will be invaluable in our next phase of growth."
Altamount Capital was the financial advisor and Phoenix Legal and IC Universal Legal were the legal advisors to the transaction.
Athena is India's telesales BPO, offering its services to Banks, NBFCs, Insurance companies, consumer durable companies and telecoms. It has a team base of over 4500 employees, who cater to new business development and after-sales service requirements. The company has built a customer base of leading Banks and Insurance companies.
UDS is a company that currently caters to clients across industries such as manufacturing and engineering, banking, financial services and insurance ('BFSI'), healthcare, information technology/information technology-enabled services sector ('IT / ITeS'), automobiles and ancillaries, logistics and warehouse management, airports, railways and infrastructure. UDS' business support services include sales enablement, mailroom management, employee background verification, audit and assurance, warehousing solutions, airport ground handling services, warehousing management, institutional catering, washroom and feminine hygiene care solutions, monuments management services and general staffing.
This story is provided by PRNewswire. ANI will not be responsible in any way for the content of this article. (ANI/PRNewswire)
Get a daily dose of Nepal National news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Nepal National.
More InformationREDMOND, Washington: Artificial intelligence is transforming Microsoft's bottom line. The company saved over US$500 million last year...
WASHINGTON, D.C.: A federal rule designed to make it easier for Americans to cancel subscriptions has been blocked by a U.S. appeals...
BASTROP, Texas: In a surprising turn at Elon Musk's X platform, CEO Linda Yaccarino announced she is stepping down, just months after...
NEW YORK CITY, New York: Former British prime minister Rishi Sunak will return to Goldman Sachs in an advisory role, the Wall Street...
LONDON, U.K.: Physically backed gold exchange-traded funds recorded their most significant semi-annual inflow since the first half...
AMSTERDAM, Netherlands: Some 32 percent of global semiconductor production could face climate change-related copper supply disruptions...
The arbitration has in fact become an anchor around the Filipino people's neck, weighing the nation down economically, said Herman...
Kathmandu [Nepal], July 12 (ANI): The Trekking Agencies Association of Nepal (TAAN), an umbrella organisation of mountain tourism entrepreneurs,...
New Delhi [India], July 12 (ANI): The Ministry of External Affairs (MEA) has underlined India's increasing involvement in the Indo-Pacific...
Dhaka [Bangladesh], July 12 (ANI): The three-day second-round tariff talks between Bangladesh and the United States have ended without...
New Delhi [India], July 12 (ANI): International Cricket Council (ICC) chairman Jay Shah lauded Italy and the Netherlands after both...
Lahore [Pakistan], July 12 (ANI): Police in Faisalabad have arrested two suspects, Bilal Nawaz and Umar Aslam, in connection with the...