Allsec Technologies, Conneqt sign definitive agreements
18th Apr 2019

Allsec Technologies and Conneqt Business Solutions (Conneqt), a subsidiary of Quess Corp, have signed definitive agreements. As per agreements, Conneqt will acquire a majority stake in Allsec Technologies.

The transaction involves Conneqt purchasing 35.35% from the promoters, 26% from First Carlyle Ventures Mauritius thereby acquiring a majority control of 61.35%. In accordance with SEBI Regulations, Conneqt will make an open offer to the public shareholders of Allsec Technologies to purchase up to 26% of shareholding. The transaction is conditional to the fulfillment of customary closing conditions and required statutory approvals.

Allsec Technologies is engaged in the business of providing IT enabled services. The services provided by the company include data verification processing of orders received through telephone calls, telemarketing, monitoring quality of calls of other call centers, customer services and HR and payroll processing for domestic companies.