BLS International Buys iDATA to Expand Visa Services in Europe

BLS International Services, a company that helps people get visas, passports, and other consular services, has bought iDATA. iDATA is a big company in Turkey that helps with visa processing and consular services for countries like Germany, Italy, and the Czech Republic.

Details of the Acquisition

BLS bought iDATA for Rs 720 crore, using its own money and some borrowed funds. This deal will help BLS become stronger in Europe, where iDATA already has a strong presence. iDATA has over three dozen Visa Application Centres in more than 15 countries.

What This Means for BLS

Shikhar Aggarwal, the Joint Managing Director of BLS, said that this move will help BLS build new relationships with European governments and improve its financial performance. He believes that combining the strengths of both companies will make BLS more visible and increase its market share.

After the announcement, BLS International Services’ shares went up by 2.3%, closing at Rs 378.20 per share.