Karvy Computershare Private Limited, the 50:50 joint venture between Karvy and Australia's Computershare, have entered into a definitive agreement with KPMG Fakhro to acquire a majority stake in its affiliate, Bahrain Shares Registering Company WLL, for an undisclosed sum, the company said on Tuesday.
The acquisition is part of Karvy Computershare's Middle East expansion strategy enabling the extension of its investor services through state-of-the-art technology, operating management practices and quality standards, offer securities services to customers of BSRC and the entire region, it added.
"This acquisition would help us create a path-breaking process for servicing investors in the (West Asia) region," the company's CEO, V Ganesh said.
The 35-year-old BSRC is the largest player in the securities registry business in Bahrain, serving 90 per cent of listed companies in Bahrain.
Karvy Computershare provides registrar services to mutual funds and corporates across India, servicing 67 million investors across 500 corporate and 29 mutual funds at nearly 500 locations.
Computershare is known for its expertise in data management, high volume transaction processing, payments and stakeholder engagement.
The company specializes in corporate trust services, tax voucher solutions, bankruptcy administration and a range of other diversified financial and governance services.