HGS to buy chunk of Mphasis BPO business for Rs 17 crore

Hinduja Global Solutions (HGS), part of the Hinduja group, has announced that it has signed definitive agreements with leading IT services provider Mphasis Group to acquire a significant portion of their domestic BPO business for Rs 17 crore, subject to regulatory approvals.

Besides strengthening  HGS’ presence in India by adding newer service capabilities and clients in the telecom and banking and financial services (BFS) verticals, the acquisiton will bring in over 7,000 customer experience professionals to the company.

“The acquisition gives us a very wide footprint across India. With their transactions, we will double our business,” said HGS Chief Executive Officer Partha De Sarkar.

The acquisition is said to be funded through internal accruals. Five new clients are expected to join HGS’s existing client base.

HGS India Executive Vice President Ramesh Gopalan said, “The acquisition expands our client base with no overlapping clients other than one”. Some marquee clients in the telecom and BFS (banking financial services) sectors have been added to our clientele, he added.