BLS International Services Acquires iDATA for Rs 720 Crore

BLS International Services has completed the acquisition of 100% stake in iData Danışmanlık Ve Hizmet Dış Ticaret Anonim Şirketi and its subsidiaries for Rs 720 crore. The acquisition was funded through internal accruals and debt and aims to strengthen BLS’s position in the visa and consular services sector.

BLS International Services announced on Tuesday the completion of its acquisition of iData Danışmanlık Ve Hizmet Dış Ticaret Anonim Şirketi and its wholly owned subsidiaries. The deal is valued at about Rs 720 crore.

The acquisition was made through BLS International FZE and BLS International Holding Anonim Şirketi, both subsidiaries of BLS International Services. The transaction is expected to bolster BLS's presence in the visa and consular services market.

According to a statement, the acquisition was funded via internal accruals and debt. iDATA reported revenues of Rs 246 crore and an EBITDA of Rs 144 crore in CY2023. The move aligns iDATA's existing agreements and operations within BLS's global network, expanding BLS's services in Europe.

(With inputs from agencies.)