BLS International acquires Turkey-based iDATA for ₹720 cr

BLS International, which offers visa consultancy services, has acquired Turkey-based visa processing and consular services provider iData Danışmanlık Ve Hizmet Dış Ticaret Anonim Şirketi and its subsidiaries for ₹720 crore. The acquisition was first announced in January this year. 

iDATA offers visa processing and consular services to various governments. It operates over three dozen Visa Application Centres (VAC) in more than 15 countries, serving the diplomatic missions of Germany, Italy, and the Czech Republic. 

BLS completed the acquisition for ₹720 crore, funded through internal accruals and debt, the company said in a statement. In 2023, iDATA reported revenues of ₹246 crore and an EBITDA of ₹144 crore. 

The company, in a statement, said that this acquisition is expected to strengthen BLS’s position and help build relationships with new client governments in Europe. iDATA’s existing agreements and offices will be integrated into BLS’s network in 66 countries, enabling BLS to serve more client governments in Europe. 

Shikhar Aggarwal, Joint Managing Director of BLS International Services Limited, said, “We are delighted to announce the completion of the iDATA acquisition, which is a pivotal inflection point in BLS’ growth journey and a testament to our strategic initiatives aimed at achieving our vision of becoming the leader in visa and consular services globally.”

“iDATA is a niche and specialised player operating in certain geographies since the last 15 years and has built meaningful and deep-rooted relationships with client governments.”  

In June, BLS also announced that its subsidiary, BLS E-Services Limited, agreed to acquire a 55% controlling interest in Aadifidelis Solutions and its affiliates, a major player in the distribution and processing of loans for corporates and individuals in India.