UDS buys majority stake in Matrix Business Services to expand offerings

Founded in 1985, UDS has grown into a leading business services specialist, managing 250 million sq ft commercial space across India

Facility management services firm UDS, run by Chennai-based Updater Services Pvt Ltd, has acquired majority stake in business assurance and background verification services firm Matrix Business Services for an undisclosed amount. 

As part of the deal, UDS has picked up 75 per cent stake in Matrix Business Services, including the entire 19.77 per cent stake of Kotak Mahindra Investments and 2.67 per cent of Mahindra & Mahindra Contech.

Founded in 2003, Matrix is in the business of providing assurance services, claims processing, employee background verification checks, product and process audits of warehouses, depots, distributors, retail points etc. The company has