WNS buys B'lore-based Marketics for $65 million

WNS (Holdings), a $300 million BPO services provider, has acquired Bangalore-based knowledge processing firm (KPO) Marketics Technologies for $65 million (around Rs 290 crore) in cash.

WNS,  in a statement, said it has signed a non-binding letter of intent to acquire the privately-owned company in offshore analytics services.

Marketics is a four-year old company employing around 200 people, mainly based in Bangalore with an additional centre in Coimbatore in Tamil Nadu. Marketics has a topline of close to $4 million. "WNS expects to acquire Marketics for up to $65 million including a $30 million payment at the time of the closing and an earn-out of up to $35 million over a 12-month period. WNS expects to finance the transaction primarily through existing cash and cash equivalents," the release added.

"Marketics, in a short time, has built a world-class company focused on offshore analytics. The acquisition, when completed, will enhance our knowledge services leadership, help us penetrate new consumer-centric industries, and move further up the value chain in our service offering," Neeraj Bhargava, WNS Group chief executive officer, said.