Business Daily from THE HINDU group of publications
Wednesday, Oct 08, 2008
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Business Daily from THE HINDU group of publications Wednesday, Oct 08, 2008 ePaper | Mobile/PDA Version | Audio | Blogs |
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Info-Tech
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Mergers & Acquisitions Spanco, Spice Televentures to merge domestic BPO biz Our Bureau New Delhi, Oct. 7 Spice Televentures Ltd and Spanco Telesystems and Solutions on Tuesday inked an agreement to create a large onshore BPO entity by merging three existing domestic BPO businesses – Omnia BPO Services, Spanco BPO Services, and Bharat BPO. The new entity would provide voice-based back office and contact centre services to clients across banking, financial services and insurance (BFSI), telecom, travel and eGovernance sectors in India. “We will build India’s largest domestic onshore BPO company, providing world-class customer service solutions using the modern technology systems, benchmarked against the best,” Mr Dilip Modi, Chairman, Omnia BPO Services Ltd (a Spice Televentures Group company) and the Chairman of the new joint venture, said. The joint venture would see an investment of Rs 500 crore in expanding its presence across the country over next two years. The financial details of the transaction were not immediately available. To hire moreThe joint venture currently employs around 10,000 professionals and this expected to grow to around 15,000 employees by March 2009. From having 7,000 seats across 10 cities, including Delhi NCR, Mumbai and Kolkata, it plans to ramp up capacity to 15,000 seats by March 2010 with a focus on Tier 2 and 3 cities. For adding the new seats, it would look at locations including Mysore, Lucknow, Coimbatore, Bhubaneswar, and Ludhiana, a senior official said. Explaining the structure of the new entity, Mr Pravin Kumar, CEO – Omnia BPO Services said, “So far Omnia BPO Services, was a Spice Televentures subsidiary, and Bharat BPO, an existing joint venture of Omnia and Spanco Telesystems. The BPO firms will merge to create Omnia BPO Services, where Spice Televentures and Spanco Telesystems would hold 50 per cent each. This will create one of the largest onshore pure-play BPO company in India.” More Stories on : Mergers & Acquisitions | Outsourcing | Human Resources
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