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News : Hinduja Global to Acquire Stake in Mphasis' BPO Business
Mumbai, India, June 30, 2015 -- Hinduja Global Solutions has bought a significant part of Bengaluru-based IT service provider Mphasis' domestic BPO business in a slump sale.
In a regulatory filing on Tuesday, BPM firm Hinduja Global Solutions (HGS) said it has entered into a definitive agreement with Mphasis and its subsidiary, MsourcE India, for acquisition of a significant portion of their BPO business.
"This acquisition is opportunistic and fits well into our growth plans. It adds scale and awider footprint even as we enhance our capabilities and gain an outstanding team of domain specialists to cater to our clientele," Partha DeSarkar, chief executive of HGS, said in a statement.
The deal will give HGS five clients in the banking and telecom space and will add seven delivery centres — in Noida, Raipur, Indore, Mangalore, Pune and Bangalore. HGS will also take on 7,000 Mphasis' employees.
Mphasis said that no jobs would be lost in the transfer and that all steps would be taken to smoothen the movement.
"A dedicated unit has been set up to ensure smooth transfer for all employees. There would be no loss of jobs or headcount reduction," said Elango R, chief human resources officer and head of emerging geographies business unit of Mphasis.
Posted by Veronica Silva Cusi, news correspondent
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About Hinduja Global Solutions Ltd.:
A company from the Hinduja Group, Hinduja Global Solutions is a Bangalore- headquartered BPO Business Services company providing end to end consumer focused services and industry solutions. HGS has 24,000 employees world wide with over half of our revenue being delivered in operations located in NA and UK.
MphasiS delivers global Infrastructure Technology Outsourcing, Applications Services Outsourcing and Business Process Outsourcing services.
Published: Wednesday, July 1, 2015