Hinduja Global to acquire stake in Mphasis' BPO biz

BPM firm Hinduja Global Solutions today said it will acquire a "significant portion" in Bangalore-based IT service provider Mphasis' BPO business for Rs 17 crore.
Hinduja Global Solutions (HGS) in a regulatory filing said that it has entered into a definitive agreement with Mphasis and subsidiary MsourcE India for acquisition of significant portion of their BPO business "as a going concern on a slump sale basis for consideration of Rupees Seventeen Crores only".
Upon completion, the acquisition will strengthen HGS' presence in India by adding newer service capabilities and marquee clients in the telecom and banking and financial services (BFS) verticals while bringing in over 7,000 customer experience professionals, a joint statement by HGS and Mphasis said.

"This acquisition is opportunistic and fits well into our growth plans. It adds scale and a wider footprint even as we enhance our capabilities and gain an outstanding team of domain specialists to cater to our clientele," HGS Chief Executive Officer Partha DeSarkar said.
This acquisition will add seven delivery centers to HGS across six cities - Noida, Raipur, Indore, Mangalore, Pune and Bangalore, it added.
"I am very happy to see that with this agreement, Mphasis will further intensify focus in Digital, Governance Risk and Compliance (GRC), Application Maintenance Services (AMS) and Infrastructure Services (IS)," Mphasis CEO Ganesh Ayyar said.