Tricom all set to buy two firms

IT services provider Tricom India today said it is in final stages of acquiring Mastiff Tech and Mastiff Internet Media Solutions.

These acquisitions would strengthen the company's BPO operations, Tricom India said in a filing to the Bombay Stock Exchange (BSE). The requisite formalities for purchasing these two firms are expected to be completed within the next few weeks, it said.

The company would further supplement its own BPO operations by using Mastiff's technology team in addition to supporting Tricom's software development clients, it said, adding the two Mastiff firms are leading providers of niche Internet technology solutions. Mastiff is a leading provider of technology solutions in the country and abroad.

With this acquisition, Tricom would also have a domestic client base. Mastiff's own clients include leading dotcoms and several blue chip banks, it said. Tricom is an ITeS provider focused on non-voice BPO service and focuses on IT-enabled data management. It has its operations in the country and the US.

Shares of the company closed at Rs 19.50, marginally down from the previous close on the BSE.