Hinduja TMT jumps on US BPO buy

DALAL STREET SPIKES

Hinduja TMT surged 7.2 per cent to close at Rs 521 followed by four-fold rise in volumes of 83,400 shares on the BSE on the announcement of the acquisition of a US-based BPO, Affina, for an undisclosed amount.

Affina is a reputed BPO brand in the US with a three-decade long track-record of serving globally recognized clientele and having annual revenues of $60 million. It operates across 7 centers in the US and Canada.

This acquisition will nearly double the company's combined revenues to over $130 million and catapult the company into the top five pure-play BPOs in India.

HTMT will benefit from the access to a large and high-quality client base, onshore delivery capabilities in the US. It will now be operating from 14 cities, 7 of which are in North America, 1 each in Philippines and Mauritius and five in India.