One Point One Solutions Acquires Majority Stake in ITCube Solutions for Rs. 84 crore

One Point One Solutions Acquires Majority Stake in ITCube Solutions for Rs. 84 crore

PR Newswire

MUMBAI, India, Feb. 26, 2024

• Strengthens Global Presence & Market Leadership through acquisition
• Acquisition propels company onto global stage and enriches its existing portfolio with expanded IT services and verticals, fostering a broader market reach

MUMBAI, India, Feb. 26, 2024 /PRNewswire/ -- One Point One Solutions Limited (NSE: ONEPOINT), a leader in next-generation Business Process Management (BPM) services, has announced the acquisition of a majority stake in ITCube Solutions Pvt Ltd., which is an IT + BPM/KPO services company headquartered in Pune and Cincinnati, Ohio. This acquisition will enable One Point One Solutions to expand its current verticals, including healthcare and offerings in IT services.

ITCube Solutions, a debt-free and profitable company with over two decades of experience, employs 600+ professionals and serves clients globally. With a consolidated turnover of Rs. 53.57 crore and EBITDA of Rs. 12.15 crore for the fiscal year ending March 31, 2023, ITCube has a robust presence in the USA, England, Netherlands, Germany, Kuwait, Oman, UAE, Qatar, India, Singapore, and Australia.

Akshay Chhabra, Managing Director, One Point One Solutions, said, "This strategic move represents more than just an expansion of our business—it signifies our commitment to Innovation, Growth, and Solidifying our presence on the Global stage. IT Cube Solutions brings a wealth of expertise and experience in IT + BPM/KPO services, with a strong foothold in Pune and Cincinnati, Ohio." 

"This acquisition embodies a transformative milestone. It broadens our verticals and enriches our capabilities to cater to clients across diverse industries. The synergies between our companies ignite a spark of collaborative innovation, propelling us to unprecedented success. This strategic move significantly amplifies our growth trajectory, particularly in the U.S. market, fortified by our newfound expertise in the Healthcare sector and expanded IT service offerings. It positions us to navigate future challenges and opportunities impeccably, empowering us to deliver unparalleled value to our clients and stakeholders."

Furthermore, he envisages this acquisition as more than just a business transaction; it represents a transformative journey towards becoming a global outsourcing leader by leveraging both organisations' combined expertise, resources, and talent pool, the company aims to set new benchmarks for excellence and innovation in delivering BPO, KPO, and IT services worldwide.

One Point One Solutions, with a workforce of over 5,000 individuals, leads in next-generation BPM, fostering opportunities for individuals, businesses, and communities. For more information, visit www.1point1.com.

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SOURCE One Point One Solutions Ltd