Aggarwal works on BLS growth journey
Mumbai-listed BLS International Services Limited blsinternational.com/ , a leading global tech-enabled service partner for governments and citizens, has acquired 100% stake in Turkey’s iDATA and its wholly owned subsidiaries, through BLS International FZE (WoS of BLS) and BLS International Holding Anonim Şirketi (WoS of BLS International FZE).
iDATA, a leading visa service provider with 37+ VACs in 15+ countries, serves Germany, Italy, and the Czech Republic. BLS acquired iDATA for ~Euro 80 million. In 2023, iDATA reported revenues of ~Euro 27.3 million and EBITDA of ~Euro 16 million https://www.nseindia.com/ .
This acquisition would further strengthen the overall BLS’ position as one of the leading international players in Visa and Consular services https://www.bseindia.com/ . iDATA’s existing agreements and offices will be aligned into the BLS’s network in 66 countries across the globe, enabling BLS to service more Client Governments in Europe http://unwto.org. The transaction will be EPS (Earning per share) accretive to BLS immediately.
“This acquisition enables BLS to expand relationships in Europe http://msei.in , enhance visibility, and consolidate market share,” said Shikhar Aggarwal, Joint Managing Director of BLS International.
“We expect positive financial impacts and improved margins from combined synergies,” he said on 12 July, announcing the acquisition http://unwto.org.
“We are delighted to announce that the iDATA acquisition is a pivotal point in BLS’ growth journey and a testament to our strategic vision of leading global visa and consular services. iDATA, with 15 years of specialized experience, has built strong relationships with client governments incredibleindia.”
BLS International Services Ltd, established in 2005, is a global leader in visa, passport, consular, and citizen services, recognized as one of the top 2 firms in its field with over 19 years of experience. It boasts collaborations with over 46 client governments and operates across 66 countries. The company is acclaimed for its data security and service quality, processing over 360 million applications to date. It has received numerous accolades from prestigious publications and holds several quality and security certifications. Uniquely, BLS International is the only publicly traded entity in its sector, listed on BSE, NSE, and MSE, underscoring its industry prominence and commitment to excellence. Fiinews.com
