US-based BPO company Sutherland Global Services has acquired financial research and analytics firm, Adventity Global Services, for Rs 250 crore. The 100 per cent acquisition was concluded through all-cash deal and Sutherland expects gain around $50 million (Rs 220 crore) in revenue.
New York-headquartered Adventity offers financial research and BPO services to banks, financial services companies and the airline and travel industry. It has 2,500 employees at its offices in Asia, Africa and West Asia.
Dilip Vellodi, chairman and chief executive officer, Sutherland Global Services, told Business Standard the acquisition would give a fillip to Sutherland’s revenues, which were expected to be around $500 million (around Rs 2,200 crore) this year.
He added that the acquisition has not been done just to “bulk up” the revenues or profits.
“Sutherland has a bias towards organic growth. It (the acquisition) is part of a complementary vertical, geographic and services strategy. A majority of our business comes from the US while Adventity has a presence in Asia, Africa and Middle East. Hence, this will extend our presence into these markets,” he said.
This is Sutherland's first acquisition in its 24 years of existence, said.
Sutherland employs over 10,000 people in India at its three BPO facilities in Chennai, Mumbai and Kochi. It plans to open new campuses at Chennai and Kochi.