Business

BLS International Services Limited, a leading global tech-enabled service partner for governments and citizens, has announced the successful acquisition of a 100% stake in iDATA, a premier visa service provider based in Turkey. This acquisition was completed through BLS International FZE and BLS International Holding Anonim Şirketi, both wholly owned subsidiaries of BLS.

iDATA operates over 37 Visa Application Centers (VACs) across more than 15 countries, providing services for Germany, Italy, and the Czech Republic. The acquisition deal was valued at approximately €80 million. In 2023, iDATA reported revenues of around €27.3 million and an EBITDA of approximately €16 million.

This strategic acquisition positions BLS as a leading international player in the visa and consular services sector. Integrating iDATA’s established agreements and offices into BLS’s extensive network, which spans 66 countries, will enhance BLS’s capacity to serve more client governments across Europe. The transaction is expected to be immediately accretive to BLS’s earnings per share (EPS).

Mr. Shikhar Aggarwal, Joint Managing Director of BLS International, expressed his enthusiasm about the acquisition: “We are delighted to announce the completion of the iDATA acquisition, a pivotal point in BLS’s growth journey and a testament to our strategic vision of leading global visa and consular services. iDATA, with 15 years of specialized experience, has built strong relationships with client governments. This acquisition enables BLS to expand relationships in Europe, enhance visibility, and consolidate market share. We expect positive financial impacts and improved margins from combined synergies. We thank both teams for addressing regulatory requirements and welcome iDATA employees to new opportunities.”

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