The acquisition will be completed in due course subject to approval from the shareholders.

While a part payment will be made through cash, the remaining will be through optionally fully convertible debentures. Tricom will be funding this deal entirely through internal accruals. GGSL currently employs nearly 650 people and has two facilities; one at Belapur in Navi Mumbai and the other in Chennai.

Since 2002, GGSL has been offering customized business process outsourcing (BPO) solutions and services for enhancing the effectiveness of business operations and thereby providing valuable leverage to business. Their work specialises in three main domains: Healthcare, Data Capture and Data Conversion.

"Acquisitions were a part of the growth strategy for Tricom and we hope to grow organically and inorganically," says Chetan Kothari, Managing Director of Tricom India.