BLS INTERNATIONAL WRAPS UP STAKE PURCHASE IN IDATA

KUALA LUMPUR, July 15 (Bernama) -- BLS International Services Limited, has completed the acquisition of 100 per cent stake in iDATA and its wholly owned subsidiaries, via BLS International FZE (WoS of BLS) and BLS International Holding Anonim Şirketi (WoS of BLS International FZE).

“We are delighted to announce the completion of the iDATA acquisition, a pivotal point in BLS’ growth journey and a testament to our strategic vision of leading global visa and consular services. iDATA, with 15 years of specialised experience, has built strong relationships with client governments.

“This acquisition enables BLS to expand relationships in Europe, enhance visibility, and consolidate market share. We expect positive financial impacts and improved margins from combined synergies,” said BLS International Joint Managing Director, Shikhar Aggarwal in a statement.

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Acquiring iDATA for approximately 80 million euros, this acquisition would further strengthen the overall BLS’ position as one of the leading international players in visa and consular services. (1 euro = RM5.08)

iDATA’s existing agreements and offices will be aligned into the BLS’s network in 66 countries across the globe, enabling BLS to service more Client Governments in Europe. The transaction will be earning per share (EPS) accretive to BLS immediately.

Turkiye-based iDATA  is a visa service provider with over 37 visa application centres (VACs) in more than 15 countries, serving Germany, Italy, and the Czech Republic. It reported revenues of approximately 27.3 million euros, in 2023.

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Established in 2005, BLS International is a global tech-enabled service partner for governments and citizens in visa, passport, consular, and citizen services, recognised as one of the top two firms in its field with over 19 years of experience.

-- BERNAMA