| Acquiree |
Acquirer / VC |
Value |
Date |
Reason For Acquisition |
Apollo Contact Centre (British Telecom arm)
Belfast, Ireland |
HCL Tech BPO |
$11.5m |
May 2002 |
Onsite facility to expand services to European market. $31m revenues for three years from BT. |
Town And Country Assistance
Ipswich, UK |
WNS |
Not Available |
August 2002 |
To enter the insurance claims procesing market. |
Embrace
Singapore |
IndiaLife Hewitt |
Not Available |
April 2003 |
To expand presence in the Asia-Pacific region. |
Core3
Phoenix, USA |
Ephinay |
Not Available |
July 2003 |
To acquire customers and consulting experience, move up the value chain and get a US delivery centre. |
ClaimsBPO
USA |
WNS |
Not Available |
September 2003 |
To enter the US healthcare market. |
CorPay Solutions
Detroit, USA |
Datamatics |
$9m |
October 2003 |
Set up US front-end and ramp up finance and accounting offering. |
Upstream
Philadelphia, USA |
Godrej |
$6m |
November 2003 |
To enter the $800m travel services market in the US. |
Aegis Communication Corp
Texas, USA |
Essar (with Deutsche Bank) |
$28m |
November 2003 |
Access to blue-chip telecom and financial services firms. 5000 seats and 11 centres in the US. |
Simpata
San Francisco, USA |
Indecomm |
Not Available |
December 2003 |
Establish US delivery centre. |
| Acquiree |
Acquirer / VC |
Value |
Date |
Reason For Acquisition |
Pipal Research
Illinois, USA |
ICICI OneSource [51% stake] |
$1.25-1.5m |
September 2004 |
Enter the high-margin research and analytics market. |
Source One Communication
New Jersey, USA |
Hinduja TMT |
$8.5m |
September 2004 |
Centres in New Jersey, Toronto, Manila; multi-lingual capabilities in French and Spanish. |
Cambridge Integrated Services
Illinois, USA |
Scandent Group |
$110m |
September 2004 |
Enter the insurance claims processing segment, expand presence to Australia and the US. |
Accounts Solutions Group (ASG)
New York, USA |
ICICI OneSource |
$40-45m |
October 2004 |
Staff strength of 500 in US delivery center to enter the high-margin, late-stage collections market. |
Devonshire Group
London, UK |
OfficeTiger |
Not Available |
November 2004 |
Expand capabilities to consulting and staffing services. |
| HealthScribe |
Spheris |
Not Available |
December 23, 2004 |
With the acquisition of Avicis/HealthScribe, currently the nation's third largest medical transcription outsource provider, Spheris is now positioned to more rapidly expand its product and service offering of complete medical transcription technology and outsourcing services to healthcare providers throughout the U.S. and Canada. |
| Spanco Telesystems |
Intelenet Global Services |
Rs 100 crore |
November, 2005 |
Spanco's domestic BPO business will be farmed out into a separate listed subsidiary, to be owned 51% by Intelenet Global and 49% by Spanco's present shareholders. The Anil Ambani Group owns 14.9% of Spanco |
| b2k |
Allsec Tech |
$3m all-cash deal, final consideration will depend on the revenues of the company from Dec 2005-March 2006 |
Signed in Dec 2005, to be completed by March 2006 |
Allsec gets a strong foothold into the technical support vertical |
| Office Tiger |
RR Donnelley |
$250m all cash deal |
Signed in March 2006 |
Donnelly to cut its own costs by outsourcing printing to OfficeTiger |
| Acquiree |
Acquirer / VC |
Value |
Date |
Reason For Acquisition |
| ICICI OneSource |
Temasek, ICICI, WestBridge Capital Partners, Metavante |
Metavante picks 11.5% stake in ICICI OneSource |
Signed in April 2006 |
Metavante has relationships with over 8,000 financial institutions, including 91 of the top 100 US banks. Metavante will be the exclusive distributor of I-OneSource's BPO services in the North American banking and financial services and payments markets. |
| Secova eServices |
UltraLink |
Not Available |
Signed in April 2006 |
The merger of the two companies came into being with Trident and Capz – the two major investors of Ultralink being bought over by Bearings Private Equity – the major stake holder of Secova. This merger enables the combined company to leverage technology, global delivery centers and best-in-class processes to deliver an integrated, human resources and benefits administration supply chain at a cost effective price point – regardless of an organizations' size. |
| G K Management Services India Ltd |
Stock Holding Corporation of India (SHCIL) |
Not Available |
Signed in May 2006 |
GKM does back-office operations in the areas of finance, accounting and insurance claim processing. The synergy of GKM and SHCIL services would help ramp up the operations and offer a bouquet of services. |
| IMG Group |
EBS Worldwide |
$6-7m |
Signed in May 2006 |
EBS is a marketing services BPO and IMG is in US. EBS hopes to tap the US market better thru IMG |
| Inductis |
EXL Service Holdings |
$20-40m [stock-cum-cash, majority in stock] |
Signed in July 2006 |
A strategic acquisition to strengthen EXL's research and analytical vertical. |
| Minacs |
Transworks |
$125m [share-cum-cash deal for 46.4% acquistion of promoters equity] |
Signed in June 2006 |
Canada based Minacs has an annual revenue of $265m. Transworks wil have an combined revenues of $300m |
| Progeon |
Infosys |
Rs 530 crore: Infy acquired 87,50,000 equity shares, 23 per cent of Progen from Citicorp International Finance Corporation |
July 2006 |
|
| Armanti Financial Services, LLC |
Apollo Health |
$31m |
August 2006 |
|
| Indigo |
Capgemini |
Capgemini acquired 51% |
September 2006 |
|
| Acquiree |
Acquirer / VC |
Value |
Date |
Reason For Acquisition |
| Olympus Capital |
Quatrro |
$100m |
September 2006 |
|
| LiveIt Solutions Inc. |
Integreon |
After acquisition of shares from Connect Capital and The View Group it will infuse $20m into Integreon |
October 2006 |
|
| Affina |
Hinduja TMT |
|
October 2006 |
|
| Afinity Express |
Ayala Corp |
$25m |
December 2006 |
|
| BPM Inc. |
Firstsource Solutions |
$30m |
January 2007 |
Acquisition includes BPM's two wholly owned subsidiaries - MedPlans 2000 and MedPlans Partners. |
| Vantedge |
Essar Gobal |
Rs 100 Crore |
January 2007 |
Acquisition is expected to contribute over USD 25 million in revenues to the BPO business of Essar |
| Lason |
HOV Services |
$148m |
February 2007 |
Acquisition will help HOV make an entry in new business verticals like transaction processing, healthcare and media |
| Sitel India |
Sitel Corporation |
$22.2m |
March 2007 |
Tata Consultancy Services is exiting its joint venture BPO, Sitel India, by selling its 40% stake for $17.73 million to Sitel Corporation. Tata International is exiting by selling 10% stake for $4.47m |
| Marketics |
WNS |
$65m in cash |
March 2007 |
WNS to enhance knowledge services business, which provides market research, business & financial research and analytics services. |
| Acquiree |
Acquirer / VC |
Value |
Date |
Reason For Acquisition |
| Four Lakes Colorgraphics |
Laserwords |
$11m |
August 2007 |
The two decade old Four Lakes is a full service pre-media company with two facilities in Wisconsin and New York City. It is believed that Four Lake’s project management, design and editorial development skills will combine will with Laserword’s technical strength to provide on-shore, off-shore and hybrid delivery models. Laserwords will have over 1000 employees post acquisition. |
| HCCA Business Services Pvt Ltd |
3i Infotech Ltd |
3i acquired 51% of HCCA. Amount Not Disclosed |
August 2007 |
HCCA has been acquired for its delivery capabilities in HR operations, including large scale payroll processing for clients in the BFSI sector |
| Infocrossing |
Wipro |
$600m / 60 times Infocrossing's earnings for the last 12 months |
August 2007 |
The deal will give Wipro five data centers in the U.S. and approximately 900 employees, as well as access to Infocrossing's U.S. customers. After the acquisition, Wipro's IT infrastructure management practice will be 1.5 to 2 times larger than its nearest peers, Tata Consultancy and HCL Tech. While this will enable the company to compete more effectively in larger IT management deals. |
| Telecom Service Centres |
Hero Group |
£40 million |
September 2007 |
The new entity will be christened TSC Hero and will offer customers a multi-site solution, increasing market potential and growth prospects in the core markets of Europe, Asia and the US. |
| Usha Martin |
Converso Contact Centres |
The Jhawar family, main share holders of the Usha Martin Group acquired 76% of Converso for an undisclosed amoun |
September 2007 |
Jhawars are investing in both new and existing international locations and plan to build facilities for a total of 2,000 contact centre seats globally (both on-shore and off-shore) that will meet the demands from major blue chip organisations and give them the choice of leveraging domestic and overseas BPO capabilities. |
| Florida based GSR Physician Billing Inc and GSR Systems Inc and Oregon-based medical transcription services provider DenMed Inc |
Accentia Technologies |
Rs 80 crore |
October 2007 |
While the GSR group companies have revenues of $3 million each, DenMed had revenues of $1.5 million. The company expects to add nearly $10 million to its topline by way of these acquisitions. |
| marketRx |
Cognizant |
$135m in cash |
October 2007 |
This acquisition expands Cognizant's capabilities in the analytics segment and broadens our service offerings for the life sciences industry while providing strong synergies with our existing business intelligence/data warehousing and CRM (customer relationship management) services. |
| Citi BPO |
Genpact |
$630m for 90% stake |
October 2007 |
The Firstsource bid was around $100 million more than that of Genpact and although Citi was keen on doing the deal with Genpact, it was caught in a bind over the bids. |
| Dalglen |
Hero Group |
£40 million (Rs 320 crore) |
December 2007 |
Dalglen has a large presence in Scotland. It is one of the largest call centres in Europe and in the UK. Post acquisition, the combined group will have clients spread across sectors like telecom, financial services, IT, retail, utilities and consumer durables. The deal covers several wholly-owned subsidiaries of Dalglen including Telecom Service Centres (TSC), TSC Credit Management, Sigdev and 9 dormant subsidiaries of TSC. Dalglen group had annual revenues of £55 million in 2007 and is growing at a 15% clip annually. It has nine sites across the UK and an employee base of 3,000. |
| WNS |
PE fund Nalanda India |
$32-34 million for 5.25% stake [2.2 million shares] |
March 2008 |
WNS is the second Warburg portfolio firm where Nalanda India, the India fund of Singapore-headquartered private equity fund Nalanda Capital, is known to have invested. The $400-million fund, which has a mandate to invest only in publicly-listed companies, had picked up a 14.9% stake in Jaipur-based Vaibhav Gems. |
| RSM McGladrey |
Quatrro |
$50 million |
April 2008 |
McGladrey’s has some $18 million in billings and its 600 or so staffers, including 200 in the U.S. Quatrro has 1600 employees |
| Quatrro |
John Keells Holdings (JKH) |
$5.72 million for 44% stake |
April 2008 |
A new legal entity has been carved out from the merger of Quatrro's own finance and accounting practice and RSM’s FPO unit. John Keells has picked up 44% stake in this new entity |
| Acquiree |
Acquirer / VC |
Value |
Date |
Reason For Acquisition |
|
Source: Media Reports
|
