| IT services firm Allied Digital Services is in the final stages of acquiring three firms - a Canadian firm and two domestic firms - for around Rs 50 crore. The company has completed the technical and other evaluations for the three firms, and is close to submitting the ‘term-sheets’ (formal agreements) for the acquisitions.
|
| |
| Allied Digital is close to snapping up a technical business process outsourcing (BPO)-provider based out of Canada.
|
| |
| The 200-seater BPO major has over 15 US-based clients and is one of the largest provider of technical BPO services from that country, according to sources close to the development.
|
| |
| The company is also in advanced level of talks with two domestic firms, one of which is a data-based administration and management firm and another is an information security firm. However, the names of the companies are under wraps.
|
| |
| The IT services company is expected to close the Canadian acquisitions within a month, and the Indian takeover within two months, they said.
|
| |
| When contacted, Allied Digital Chairman and Managing Director Nitin Shah declined to comment on the deal, citing the ‘silent period’ under SEBI regulations. The systems integrator and IT infrastructure management services provider’s is tapping the capital markets with an initial public offering (IPO), which opened today and will close on Wednesday.
|
| |
| The acquisitions are expected to be funded from its IPO proceeds. However, this could not be confirmed.
|
| |
| According to an analyst, the acquisition of the Canada-based firm would provide Allied Digital a ready list of clients in the US.
|
| |
| On acquiring the company, its operations would be shifted to India, thus making it more cost competitive.
|
| |
| Moreover, the acquisition will also enable the Indian company to expand its presence in Canada, US and other countries in the region.
|
| |
| The takeover of the two Indian companies will help Allied Digital supplement its existing skill sets and expand geographical reach - to serve other countries which are not currently under its ambit.
|
| |
| The company had earlier announced setting up a Global Delivery Centre (GDC) for remote management services for an investment of around Rs 33 crore. The company was planning to set up a Network Operation Centre (NOC) and Information Security Operation Centre (SOC) in the country. |
| |
|
| |
Content Guide
