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Bangalore, July 4 SPI, the Mysore-based IT solutions provider, has acquired the healthcare BPO and legal process outsourcing business of Comat Technologies for an undisclosed sum.

As part of the deal, SPI would takeover some 400 employees of Comat working on medical transcription, legal transcription and legal coding services. Comat was a major sub-contractor for Spheris, one of the largest medical transcription companies in the world.

Mr Sid Mookerji, CEO, SPI, said the Comat deal was the first of the multiple acquisitions that the company was planning as part of its inorganic growth strategy. The Comat acquisition gives a headstart to SPI’s foray into the IT-enabled services business. Prior to the acquisition, SPI had a team of some 25 employees in its BPO operations, focused on retail, finance and accounting.

Mr Mookerji said SPI expects about $3 million of the targeted revenues of $20 million to come from the BPO business for 2007-08. The privately-held SPI clocked a revenue of $12 million during 2006-07.

SPI plans to ramp the BPO operations by adding another 100 people in the next three months, he said.

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