Manipal Integrated Services, a part of Manipal Education and Medical Group (MEMG) has acquired Woodstock Ambience, a Bangalore-based provider of gated living for students and young professionals.
Woodstock Ambience has been in operation for over seven years and is built on 2+ acres land. The facility can accommodate over 1,000 people which offers both single and double occupancy options.
It is India’s first campus style residence for post graduate students and young professionals. Sixty per cent of the 900,000 IT and BPO workforce in Bangalore are single men and women.
Manipal Integrated Services offers facility management services to educational institutions, hospitals, corporate houses, research laboratories and hospitality institutions.
“This acquisition is a step towards providing quality accommodation to students and working professionals across the country. Woodstock matched our requirements of providing a campus with facilities that encourage smart community living for students and young professionals,”said K Shobhit Agarwal, CFO, Manipal Integrated Services.
Woodstock has clientele like IBM, Infosys, Hewlett-Packard, Tata Consultancy Services and Wipro.
