Facilities management provider UDS has acquired a majority stake in Matrix Business Services, which operates in the business assurance and background verification segment. This acquisition includes buying out the entire 19.77% stake of Kotak Mahindra Investments and 2.67% of Mahindra & Mahindra Contech and the balance 52.56% from other shareholders, mainly from all non-executive shareholders.
The acquisition will help UDS expand its service offerings, as it currently manages 250 million sq. ft commercial space across India for around 700 clients with a workforce of over 46,000 employees.
Source- The Livemint