Bandhan Financial Services acquires Genisys Group, expands global footprint

Bandhan Financial Services (Bandhan Group) on Tuesday announced acquisition of Genisys Group, a global information technology and business process services company, marking the former’s strategic entry into the technology sector.

 

The acquisition will help Bandhan Group expand its global footprint with new offices in the US, UK, and India, significantly enhancing its presence in these markets.

 

By integrating Genisys Group's offerings, Bandhan Group will add to its portfolio an integrated portfolio of solutions, including digital transformation, data analytics, cloud services, digital media operations, and smart business process solutions across various industries worldwide.

 

Genisys Group’s service portfolio spans digital application lifecycle management, cloud native solutions, data management, digital media operations and business process outsourcing, catering to various industry segments.

 

 

Bandhan Financial Services Limited (‘BFSL’) is the promoter of Bandhan Financial Holdings Limited (‘BFHL’) and Bandhan Bank Limited. BFSL was incorporated on August 3, 1995, and was registered with the Reserve Bank of India (‘RBI’) as an NBFC-NDSI-CIC engaged in the business of investment activities. Bandhan asset management company (AMC) and Bandhan Life are the step-down subsidiaries of BFSL. Recently, BFHL had acquired Aegon Life Insurance, expanding its footprint into the insurance space.

 

Commenting on the acquisition, Arvind Agrawal, managing director of Bandhan Financial Services, stated, “The ongoing global disruptions driven by digital transformation— via hyper-automation, artificial intelligence, cloud computing, and other emerging technologies— are reshaping the IT industry. We recognised an opportunity to acquire Genisys Group, bringing its balanced portfolio and decades of experience in the global market. The potential for IT-driven solutions to address business challenges, especially in the BFSI sector, is enormous, and we anticipate significant growth in this area.”