Quess to buy Monster India, HCL Computing Products

Bengaluru, Jan 31 : Integrated business services provider Quess Corporation on Wednesday announced acquiring Monster India from Monster Worldwide and HCL Computing Products Ltd from HCL Infosystems.

"The Administration Committee has considered and approved acquisition of 100 per cent equity in Monster.com India Ltd for (Dollar) 7.5 million (Rs 48 crore) and HCL Computing Products for Rs 30 crore," said the city-based company in a regulatory filing on the BSE.

The Committee also decided to buy Monster's three subsidiaries in Hong Kong, Malaysia and Singapore for an enterprise value of (Dollar) 6.5 million (Rs 41.6 crore) through its Singapore-based subsidiary Quesscorp Holdings Pte Ltd.

"The transactions are expected to close in the next few weeks, subject to the fulfillment of customary closing conditions and required statutory approvals," said the company in a statement here.

As a leading online career and recruitment resource, Monster provides profiles to employers and jobs to jobseekers across industry verticals, experience levels and geographies.

The acquired business of Monster has operations across India, Singapore, Malaysia, Philippines, Hong Kong, Vietnam, Thailand, Indonesia, the UAE and Saudi Arabia.

With 65 million registered users, 80 million resumes and 800,000 monthly new registrations, the company is amongst market leaders in the online recruitment space in each of its operating geographies.

HCL Computing Products Ltd, the care business of HCL, is one of the leading after-sales services providers for consumer products like mobile phones, electronics and durables with an extensive service network across the country, comprising 80 walk-in-centres and 200 authorised service providers.

It has relationships with smart phone makers and consumer durable companies with 2 million repairs annually.



Source: IANS