HTMT chalks out $100 mn for foreign acquisitions

Hinduja group company HTMT Global Solutions has set aside $110 million (Rs 440 crore) for acquiring companies abroad.     

"We have set aside a cash of $110 million for acquisition. We are looking at acquisitions in the US and Europe. Especially in Europe where we have limited presence," HTMT Global Solutions CFO Anand Vora said.     

In 2006, HTMT had acquired a US-based BPO firm, Affina, for $30 million.

At present, the company offers BPO services in healthcare, BFSI and telecom sectors in the US.     

About 20 per cent of the company's revenues come from India while the rest come from abroad, Vora said.     

Asked if he sees any slowdown in BPO services in India in the event of a recession in the US, he replied in negative.     

"It (US recession) augurs well for the BPO business. US companies would outsource more to reduce their cost," he said.     

"We expect more business to come our way in the event of recession, which would give way to vendor consolidation. We see a traction happening on that front," he added.     

The company would invest Rs 40-Rs 50 crore as part of its capital expenditure this year, he said.     

As part of its organic growth, HTMT is setting up a 450-seater facility in Durgapur. It has a 550-seater in Durgapur.     

It is increasing its capacity in Mysore to 700 from 300, added 900 more seats in Chennai, and putting up a new facility for 450 seats in Mumbai.