• Language
  • App
  • Subscriptions
  • Specials
  • Sign-In
  • Register
GeStepAhead GrowMyMoney Invest Now master your money
Moneycontrol

Home » News » Business

Jan 10, 2017, 09.31 PM | Source: PTI

WNS acquires US-based Denali for $40mn

Business process management company WNS today announced acquisition of US-based Denali Sourcing Services for USD 40 million to improve its capabilities in the sourcing and procurement capabilities.

Like this story, share it with millions of investors on M3

WNS acquires US-based Denali for $40mn

Business process management company WNS today announced acquisition of US-based Denali Sourcing Services for USD 40 million to improve its capabilities in the sourcing and procurement capabilities.

Post Your Comments

Share Cancel

WNS acquires US-based Denali for $40mn
Business process management company WNS today announced acquisition of US-based Denali Sourcing Services for USD 40 million to improve its capabilities in the sourcing and procurement capabilities.

"Denali will play a very complimentary role in our offerings in the finance and accounting space," WNS chief executive Keshav Murugesh told PTI over phone.

He said WNS has been working with Denali which is present in the fastest growing procurement space valued at USD 3.5 billion a year as a strategic partner for last two-and-a- half years for rendering various services to the clients.

Stating that the acquisition of the over 10-year-old company is accretive both from a revenue and margins perspective, Murugesh said all the 200 staffers of Denali including the founders will be absorbed into WNS.

The NYSE-listed WNS has signed a definitive agreement to acquire Denali and expects to get all the necessary approvals to complete the acquisition by the month-end.

Denali is a profit-making company clocking revenues of up to USD 18 million annually and it will help WNS' fourth quarter topline by over USD 3 million.

WNS will be funding the acquisition through debt, Murugesh said.

Denali gets over 95 percent of its revenue from the US and 90 percent of it is recurring in nature.

Calling it as a "good strategic and cultural fit", Denali's founder and chief executive Alpar Kamber said, "we are confident that WNS' capabilities, market presence and customer base will allow us to drive deeper client value, expand our reach, and create new offerings." Murugesh said half of Denali's employees are based in the country, while the rest is divided between the US and Turkey.

When asked about acquiring a company dependent on the US at a time when the fears of a shift to protectionist policies is high, Murugesh said WNS welcomes the incoming US president Donald Trump and has been helping create jobs in the US.

Buy, Hold, Sell ? Hear it first on M3
WNS acquires US-based Denali for $40mn

See all

Get started using your favorite social network

or

Login using moneycontrol ID

Username
Password

Need help logging in? Reset password.

Don´t have an account? Sign Up

Get started using your favorite social network

or

Simply sign up using this short form

* mandatory

UserName*

Username should be atleast 4 character

Password*

Password should be 8 or more characters,
atleast 1 number, 1 symbol & 1 upper case letter

Alert

Your Password should contain
  • 8 or more characters
  • At least 1 number
  • At least 1 symbol
  • At least 1 upper case letter
Confirm Password*
Email
Already have an account? Login