itcube solutions: One Point One Solutions acquires ITCube Solutions for Rs 84 crore

Share via:


One Point One Solutions, a Navi Mumbai-based business process management service provider, marked its overseas foray by announcing its first acquisition of smaller IT-enabled services firm ITCube Solutions for Rs 84 crore.

The company’s board “approved the acquisition of 100% stake in ITCUBE Solutions Private Limited (ITCube) for a consideration Rs. 84,00,04,632 (Rupees Eighty Four Crore Four Thousand Six Hundred Thirty Two Only) in one or more tranches,” One Point One Solutions said in a regulatory filing.

Elevate Your Tech Prowess with High-Value Skill Courses

Offering College Course Website
IIM Lucknow IIML Executive Programme in FinTech, Banking & Applied Risk Management Visit
IIM Kozhikode IIMK Advanced Data Science For Managers Visit
MIT MIT Technology Leadership and Innovation Visit

“We have our business only in India at present and the fastest way to grow was through an acquisition. This company has a lot of business in the KPO (Knowledge Process Outsourcing) and BPO (business process outsourcing) business with around 80 per cent coming from it and rest 20 per cent is from IT-enabled services segment,” said Akshay Chhabra, managing director, One Point One Solutions.
The NSE-listed firm expects to complete the transaction by 1 April, 2026.

Chhabra said the deal will also give One Point One Solutions entry into two verticals – the medical services in the US and in the manufacturing commerce space where ITCube has a large client in a B2B construction exchange.

With the acquisition, One Point One Solutions could also reduce the headcount and improve the margins driven by automation and artificial intelligence (AI) of around 40 per cent of the business and thereby get a 10 per cent uptick to profitability, Chhabra said.

Discover the stories of your interest


“Out of the 600 people, I can reduce a headcount of 150 people by doing automation,” Chhabra said adding that the senior management will be retained entirely.One Point One Solutions reported a total income grew by 18.5% to Rs 42.11 crore for Q3FY24 and a 2.8 times growth in net profit at Rs 5.97 crore.

Post the acquisition, the company is also looking to make one acquisition and is considering a couple of companies in the Philippines and in the Latin American regions.

Established in 2003, ITCube provides software development, BPO and IT-enabled services serving clients in healthcare, petrochemicals, oil and gas, construction, ecommerce, etc across USA, England, Netherlands, Germany, Kuwait, Oman, UAE, Qatar, India, Singapore & Australia.

ITCube reported a revenue of Rs 53.57 crore, Rs 57.41 crore and 50.96 crore for FY23, FY22 and FY21, respectively on a consolidated EBIDTA of Rs 12.15 crore, 14.83 crore and 14.91 crore, respectively, during the three years.



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Popular

More Like this

itcube solutions: One Point One Solutions acquires ITCube Solutions for Rs 84 crore


One Point One Solutions, a Navi Mumbai-based business process management service provider, marked its overseas foray by announcing its first acquisition of smaller IT-enabled services firm ITCube Solutions for Rs 84 crore.

The company’s board “approved the acquisition of 100% stake in ITCUBE Solutions Private Limited (ITCube) for a consideration Rs. 84,00,04,632 (Rupees Eighty Four Crore Four Thousand Six Hundred Thirty Two Only) in one or more tranches,” One Point One Solutions said in a regulatory filing.

Elevate Your Tech Prowess with High-Value Skill Courses

Offering College Course Website
IIM Lucknow IIML Executive Programme in FinTech, Banking & Applied Risk Management Visit
IIM Kozhikode IIMK Advanced Data Science For Managers Visit
MIT MIT Technology Leadership and Innovation Visit

“We have our business only in India at present and the fastest way to grow was through an acquisition. This company has a lot of business in the KPO (Knowledge Process Outsourcing) and BPO (business process outsourcing) business with around 80 per cent coming from it and rest 20 per cent is from IT-enabled services segment,” said Akshay Chhabra, managing director, One Point One Solutions.
The NSE-listed firm expects to complete the transaction by 1 April, 2026.

Chhabra said the deal will also give One Point One Solutions entry into two verticals – the medical services in the US and in the manufacturing commerce space where ITCube has a large client in a B2B construction exchange.

With the acquisition, One Point One Solutions could also reduce the headcount and improve the margins driven by automation and artificial intelligence (AI) of around 40 per cent of the business and thereby get a 10 per cent uptick to profitability, Chhabra said.

Discover the stories of your interest


“Out of the 600 people, I can reduce a headcount of 150 people by doing automation,” Chhabra said adding that the senior management will be retained entirely.One Point One Solutions reported a total income grew by 18.5% to Rs 42.11 crore for Q3FY24 and a 2.8 times growth in net profit at Rs 5.97 crore.

Post the acquisition, the company is also looking to make one acquisition and is considering a couple of companies in the Philippines and in the Latin American regions.

Established in 2003, ITCube provides software development, BPO and IT-enabled services serving clients in healthcare, petrochemicals, oil and gas, construction, ecommerce, etc across USA, England, Netherlands, Germany, Kuwait, Oman, UAE, Qatar, India, Singapore & Australia.

ITCube reported a revenue of Rs 53.57 crore, Rs 57.41 crore and 50.96 crore for FY23, FY22 and FY21, respectively on a consolidated EBIDTA of Rs 12.15 crore, 14.83 crore and 14.91 crore, respectively, during the three years.



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Website Upgradation is going on for any glitch kindly connect at office@startupnews.fyi

More like this

Password manager makers want to let you securely transfer...

The FIDO Alliance, the organization that’s helping shepherd...

Threads can now show you when people in your...

Meta is adding an “activity status” to Threads...

Crypto market matured ‘dramatically’ in 2024: Coinbase

Range-bound price action shouldn’t obscure the fast progress...

Popular

Upcoming Events

Startup Information that matters. Get in your inbox Daily!