Intelenet eyes Spanco stake

BPO major Intelenet Global Services is believed to be in talks with IT services provider Spanco Telesystems and Solutions for a possible alliance in the outsourcing space. Intelenet may also acquire a stake in the latter, sources said.

However, the talks are in a preliminary stage and it will take a few days for the deal to materialise, sources added. The companies will look at integrating their operations in certain segments where they have common interests.

Executives of both the companies have held meetings to discuss the joint venture initiatives. The Anil Ambani-controlled Reliance Capital holds a 10 per cent stake in Spanco Telesystems. Intelenet is a 50:50 joint venture with Barclays Bank of UK and India's HDFC. The Mumbai-based company is into outsourcing services, including data collection, data processing, accounts opening and voice services.

Spanco Telesystems, a public limited company listed on the Bombay Stock Exchange (BSE), is a telecommunications integration and network engineering company.

It provides network and system integration services in the areas of ITES, telecommunications network engineering, managed network services, multiservice WAN/LAN, IP telephony, security solutions, and voice and terminal-based customer contact centre solutions.