Chennai-based staffing giant Value Insource India merges with Buzzworks Business Services, a leader in HRMS & Recruitment Solutions in India, through Indiabizforsale.com
“If you want to go fast, go alone. If you want to go far, go together.”
Mergers and acquisitions have come of age in India only recently, especially among small businesses and mid-cap markets. Amidst the recent developments in SME mergers, one story is particularly close to our heart – our technology platform Indiabizforsale.com, the most preferred network to buy, sell, fund and grow businesses in India, has been instrumental in bringing together Value Insource India and Buzzworks Business Services in a highly synergistic merger transaction. Here, we share with you their success story and the inspirational journey that culminated into it.
Buzzworks – The Journey
Founded in 2001, Buzzworks Business Services operates as two distinct entities in Services and Software. Their solutions take up customers payroll and compliance loads under a single window, and under the leadership of serial entrepreneur, speaker, startup mentor and investor V C Karthic, Buzzworks today serves over 100 clients and manages 100 million calls and 10,000+ staff across 500+ workstations annually. They have booked an annual turnover of nearly INR 100 Cr in the recent years.
Indiabizforsale.com has been working closely with V C Karthic for a while now. Speaking about his experience with Indiabizforsale.com, Karthic is quoted to have said, “…we approached Bhavin and the team at IndiaBizForSale.com. They suggested some readily available opportunities on their platform in our sector, but were not of perfect match to our requirements. We worked out possible companies in our target list and the team at IndiaBizForSale.com worked on the marketing campaign for our interest to generate more leads. Within the first week of the engagement, the team at IndiaBizforSale moved efficiently and professionally…” Further, commenting on the recently closed merger, Karthic says, “Relationships like this allow us to combine the agility of a small company with the nationwide reach of a conglomerate. We are sure that this is just a precursor of larger impact happenings, both from this union as well as some exciting partnerships that we have identified in the near future.”
Exploring Synergies with Value Insource India
In 2011, Buzzworks received PE funding from UAE based Innovations Group. At present, Innovations Group has 40% stake in the company. Soon, Buzzworks grabbed the eyeballs of the strategic team at Value Insource India, which has been operational in human resource outsourcing since 1999 with over 3000 resources and clients across 15+ industries. Pepsi, Acer, WIPRO, Pantaloons, Talwalkars Better Value Business, HDFC Bank, and HSBC Shared Services are some of their prominent clients. What started out as a keen interest and curiosity, soon revealed the underlying potential of matchmaking between the two entities.
Meticulous deal preparation, intensive due diligence and several hard negotiations later, a deal finally emerged on the plate. and Commenting on the merger, Balram J Menon , Managing Director at Value Insource India Pvt. Ltd. said, “We are excited about the future possibilities of this relationship as it combines our niche strength with the delivery capabilities and processes of Buzzworks. We are confident of creating a multiplier effect in the market. This merger allows us to expand pan India and add significant value to customers as well as our bottom lines.”
We at Indiabizforsale.com are proud to have facilitated and enabled this exciting transaction and would like to congratulate Value Insource India and Buzzworks for combining their complementary competences. It will be fascinating to see their joint growth path evolve and reach new heights. We look forward to bringing more such inspirational success stories to you. To know more about what we do and how we can help you, please visit www.indiabizforsale.com