Announces an interim/ special dividend of
Funds generated from the divestment to be strategically invested in building HGS' technology capabilities
The
As part of the divestment, HGS has transferred all client contracts and assets, including infrastructure related to the healthcare services business, to the Buyer. Over 29,000 employees from HGS across four geographies - the US,
As part of the Transition Services Agreement, the new healthcare organization will operate under the name 'HGS Healthcare' for a period of up to 12 months from closing.
Explaining the strategic thought behind the deal,
Chairman Kale further added, 'Completion of the transaction unlocks significant value for the shareholders and is a recognition of the path-breaking work that HGS has been doing in the last two decades in building its domain capabilities. The Board has approved an interim/ special dividend of
HGS recently unveiled a new brand identity aligned with its vision to be a digitally-led customer experience (CX) transformation organization. This new brand identity represents HGS' focus on continually creating more satisfying customer experiences, stronger employee engagement, and more rewarding investor outcomes.
HGS will use the funds generated from the divestment to strategically invest in building its technology capabilities for the future growth of the organization. HGS has been working with its Board to chart this new path of technology leadership. HGS is also exploring several acquisition candidates for the inorganic growth of its business.'
HGS' Board of Directors in its meeting on
(a) third interim dividend ofRs. 150 /share in the nature of special dividend; and
(b) Recommendation of issue of new Equity Bonus Shares in the proportion of 1 Equity Share ofRs 10 /- each for every 1 Equity Share ofRs 10 /- each, subject to the approval of the shareholders and other statutory and regulatory approvals, as may be necessary.
Post completion of the transaction, HGS will have around 18,800 employees and 34 delivery centers in the US,
About
A global leader in optimizing the customer experience lifecycle, digital transformation, and business process management, HGS is helping its clients become more competitive every day. HGS combines automation, analytics, and artificial intelligence with deep domain expertise focusing on digital customer experiences, back-office processing, contact centers, and HRO solutions. Part of the multi-billion-dollar conglomerate
Visit https://hgs.cx/ to learn how HGS transforms customer experiences and builds businesses for the future.
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+91 8971145454
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