BLS International acquires iDATA to expand global visa and consular services

BLS International Services Limited, a leading tech-enabled service partner for governments and citizens worldwide, today announced the successful acquisition of iDATA Danışmanlık Ve Hizmet Dış Ticaret Anonim Şirketi and its subsidiaries. This strategic move involves the purchase of a 100% stake in iDATA for an overall consideration of approximately Rs. 720 Crores, a deal that was financed through internal accruals and debt. The acquisition marks a significant expansion of BLS International’s capabilities and reach in the visa and consular services sector.

iDATA, a prominent Turkey-based entity in the visa processing industry, reported revenues of about Rs. 246 Crores and an EBITDA of Rs. 144 Crores for the calendar year 2023, according to its audited consolidated financial statements. With over 37 Visa Application Centres (VAC) across more than 15 countries, iDATA has been instrumental in facilitating visa and consular services, particularly for the diplomatic missions of Germany, Italy, and the Czech Republic.

The acquisition not only enhances BLS International’s footprint but also strengthens its position as a leading international player in the visa and consular service market. iDATA’s existing agreements and offices will be integrated into BLS’s extensive network, which spans 66 countries worldwide. This expansion allows BLS to service more client governments, particularly in Europe where iDATA has established a significant presence.

Shikhar Aggarwal, Joint Managing Director of BLS International Services Limited, expressed his enthusiasm for the acquisition, stating, “The completion of the iDATA acquisition is a pivotal inflection point in BLS’s growth journey and a testament to our strategic initiatives aimed at achieving our vision of becoming the leader in visa and consular services globally.” He noted that the acquisition is expected to be immediately accretive to BLS’s earnings per share as of July 9, 2024, signaling immediate financial benefits and enhancing shareholder value.

The strategic acquisition of iDATA not only increases BLS International’s operational scale but also enhances its visibility and market share in the competitive visa and consular services industry. The integration of iDATA’s specialized services and established client relationships is anticipated to drive substantial financial performance improvements and margin enhancements for BLS, thanks to the synergies between the two companies.

The acquisition of iDATA by BLS International represents a significant strategic advancement in the global consular and visa services industry. By integrating iDATA’s resources and capabilities, BLS not only diversifies its service offerings but also reinforces its competitive position in key European markets. This move is likely to accelerate BLS’s long-term growth trajectory, enhancing its ability to meet the evolving needs of governments and citizens worldwide while delivering increased value to its stakeholders.

As BLS International looks forward to a future of expanded capabilities and enhanced service delivery, the global visa and consular services landscape appears poised for further innovations and improvements, driven by BLS’s strengthened position through strategic acquisitions like that of iDATA.