Hinduja TMT completes buy-out of multi-city BPO Company in US

Hinduja TMT Ltd on January 09, 2007 has announced that it has completed the acquisition of the multi-city US based BPO company, AFFINA, for a consideration of USD 30 million, including earn-outs.

Commenting on the development, Mr. Partha Sarkar, CEO, of the Company said, "AFFINA is a strategic fit in HTMT's global vision. Our efforts are now concentrated on integrating AFFINA into the HTMT family and creating synergies. We have already kick-started the integration process and are confident that the marriage of domain expertise, CRM capabilities and management skills will unlock value for all our stakeholders."

Illinois based Affina, a reputable BPO brand in the US, has annual revenues of USD 60mn with operations in 7 centers in the US and Canada. With this acquisition, the Company will now be operating from 14 cities, 7 of which are in North America, 1 each in Philippines and Mauritius and 5 in India. The integrated entity would have a customer base of 65 customers and a total headcount of 9200 employees. With this acquisition, the Company's consolidated revenues go up to USD 130mn, making it one of the top 5 BPO companies in India.

Source : Equity Bulls

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