Financial Daily from THE HINDU group of publications
Monday, May 10, 2004
Financial Daily from THE HINDU group of publications Monday, May 10, 2004 |
||
|
|
||
|
Info-Tech
-
Outsourcing Trans Works looks for acquisition overseas Vishwanath Kulkarni
Bangalore , May 9 TRANS Works, the business process outsourcing (BPO) outfit of the Aditya Birla Group, is eyeing acquisition overseas to boost its domain capabilities. "We are looking at acquiring a BPO firm with about 100 people either in the US or in the UK to enhance our domain expertise, especially in areas such as insurance, healthcare and mortgage processing," said Mr Prakash Gurbaxani, Chief Executive Officer, TransWorks. The company is scouting for a potential target with revenues of between $5 -10 million. "Our acquisition objective is to build domain expertise rather than scale," he said adding that the company expected to give the mandate to a merchant banker soon. TransWorks has close to 2,500 people operating at present from two centres in Bangalore and one in Mumbai. It has close to 1,700 people in Bangalore and about 800 in Mumbai. "We are planning to add one more centre in Mumbai with a capacity of some 500 seats this year. We are also planning to set up another centre with 300-500 seats in a Tier II city, preferably somewhere in the central India," Mr Gurbaxani added. TransWorks offers BPO and customer relationship management services mainly in the financial services, telecom, technology (OEMs), and hospitality verticals. It currently had 18 clients of which about 11 were Fortune 500 firms, Mr Gurbaxani said even while declining to name them. The two-year-old firm saw a 260 per cent growth last year, with revenues touching $15.2 million. For the current year, it expected to clock revenues of approximately between $28-30 million; Mr Gurbaxani said, adding that the company achieved a break-even last year. About 80 per cent of the company's efforts are voice-based services while the non-voice component accounts for the rest. "We expect the voice and non-voice component to be equal over the next couple of years," he said.
More Stories on : Outsourcing | Mergers & Acquisitions
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2004, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|