Press Trust of India / Bangalore Mar 09, 2010, 19:22 IST
Aditya Birla Minacs, an arm of Aditya Birla Group, today announced the acquisition of the UK-based Compass BPO, a leading end-to-end finance and accounting (F&A) services provider.
Through this acquisition, Minacs would take over all the operations of Compass across the UK, US, Middle East and in India, bringing Minacs’ F&A employee strength to 600, it said in a statement.
Commenting on the deal, Aditya Birla Minacs CEO Deepak Patel said, "With Compass forming the core of Aditya Birla Minacs F&A, we are now strongly positioned to be an integral part of our clients’ core processes. Compass is already a highly respected force in the F&A space with the full spectrum of capabilities."
The financial terms of the deal were not disclosed.
The founders of Compass – David McCullough and Mark Atkins– would join Minacs’ management.
Patel said with 10 years of operations, Compass has excellent client credentials, a highly qualified team, and strong domain expertise. "This move is part of our strategic roadmap, and brings to Minacs significant credibility in the fast growing F&A business."
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