The Hindu Business Line : OfficeTiger acquires UK's Devonshire group

OFFICETIGER, the New York-headquartered business process outsourcing company with a large operation in Chennai, has acquired Devonshire group of the UK, a leading provider and consultant of outsourced creative, document and staffing solutions to professional service firms in the UK and Continental Europe.

The Devonshire group has annual revenue of about $ 20 million and more than 200 clients in the financial, legal, consulting, design and pharmaceutical sectors. Devonshire has a team of 250 in London and 40 in its Frankfurt operations. OfficeTiger's total headcount rises to about 2,500 globally, according to an OfficeTiger release.

The release quoted Mr Randy Altschuler, Co-CEO, OfficeTiger, as saying that the acquisition provides a strong local presence for the company in the UK and Germany. OfficeTiger would expand the breadth of what Devonshire currently offers.

OfficeTiger has two facilities in Chennai spread over a total of about 45,000 sq ft with a third facility getting ready. It is also increasing the number of its employees.

When contacted in Chennai, Mr Joseph Sigelman, Co-CEO, OfficeTiger, declined to provide details about the cost of acquisition. He would also not comment on whether it was an all-cash deal.

To a question, Mr Sigelman said the acquisition gave OfficeTiger a strong presence in the UK and continental Europe and brought it closer to its customers. OfficeTiger would expand its services through the Devonshire platform. There was a possibility of more offshore work coming to OfficeTiger in Chennai, he said.

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