BLS International Services Limited (“BLS”), a prominent global partner providing tech-enabled services for governments and citizens, has announced the successful acquisition of 100% stake in iData Danısmanlık Ve Hizmet Dis Ticaret Anonim Sirketi and its wholly owned subsidiaries (“iDATA”). This acquisition was completed through BLS International FZE (a wholly owned subsidiary of BLS) and BLS International Holding Anonim Sirketi (a subsidiary of BLS International FZE).

iDATA, based in Turkey, is well-known for its comprehensive visa processing and consular services, operating through more than 37 Visa Application Centres (VAC) in over 15 countries. It serves diplomatic missions of countries such as Germany, Italy, and the Czech Republic. BLS acquired 100% stake in iDATA for approximately Rs. 720 Crores, utilizing internal accruals and debt. In CY2023, iDATA reported revenues of approximately Rs. 246 Crores and an EBITDA of around Rs. 144 Crores, as per its audited consolidated financials.

This strategic acquisition enhances BLS’s position significantly in the global market for visa and consular services. iDATA’s operations, including existing agreements and offices, will integrate into BLS’s extensive network spanning 66 countries worldwide. This integration will enable BLS to serve additional client governments across Europe, leveraging iDATA’s strong market presence in the region.

The transaction is expected to be immediately accretive to BLS’s EPS (Earnings Per Share) starting from July 9, 2024.


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