Indian Rayon Acquires Bpo Firm Transworks
Following up on its decision to get into knowledge-intensive businesses, the AV Birla group on Friday announced it would enter the business process outsourcing (BPO) arena with the acquisition of TransWorks.
Diversified group major Indian Rayon will buy out the promoters from TransWorks for around Rs 61 crore.
Venture capital firm ChrysCapital held a 80 per cent stake in the company, while the remaining equity was held by the TransWorks founders, Rizwan Kotia and Jagdish Moorjani.
Adesh Gupta, President and CFO of Indian Rayon, said: