BPO Industry

Vishal Information Debuts At 13% Discount On NSE

Chennai-based non-voice BPO service provider, Vishal Information Technologies Vishal Information Debuts At 13% Discount On NSEgot listed on the National Stock Exchange (NSE) at a discount of 13.33% at Rs 130 as against its issue price of Rs 150.

The scrip gained strength and touched an intra-day high of Rs 184. It also touched an intra-day low of Rs 125.60 thus far. The scrip was trading around Rs 177 and more than 10.81 lakh shares exchanged hands on the NSE.

Similar movement was seen on the Bombay Stock Exchange, where the scrip of the company got listed at Rs 150.

Vishal Information to enter bourses on August 11

Vishal Information to enter bourses on August 11Chennai-based non-voice BPO service provider, Vishal Information Technologies will list its equity shares on the bourses on August 11, 2008. The IPO had received total bids for 33,28,760 equity shares as against the total issue size of 27,90,000 equity shares and was subscribed 1.19 times. The price band has been fixed at Rs 140 to Rs 150 per equity share of Rs 10 each. Credit Analysis and Research (CARE) had assigned "IPO Grade 3'' to the Issue.

Aegis BPO To Acquire US-Based PeopleSupport For $250 Mln

Aegis BPO, a global business process outsourcing (BPO) provider and part of the Essar group, has agreed to buy the Nasdaq-listed offshore BPO provider PeopleSupport, in an all cash deal of $250 million through its Mauritius subsidiary Essar Services.

As per the agreement, Aegis BPO will pay PeopleSupport stockholders $12.25 a share in cash through Essar Services (Mauritius), which represents a premium of about 29% over PeopleSupport’s closing share price on August 1, the last trading day prior to the announcement, and a premium of about 42% over the weighted average trading price of the company’s shares during the previous 30 trading days.

The deal has been approved by the boards of directors of both companies.

Patni Computer Systems launches its first Green-IT BPO knowledge centre at Noida

Patni Computer  Systems
Patni Computer Systems Limited, one of the leading information technology service provider, has launched its first Green IT-BPO knowledge centre at Noida with an investment of Rs 175 crore.

The centre christened ‘Patni Knowledge Centre’ is spread over 5 acres and has a seating capacity of over 3500. The facility is designed and constructed as per the guidelines of LEED (Leadership in Energy and Environmental Design) India green building rating system for new construction.

NASSCOM positive for IT, BPO industry growth by 10-15% in coming 5 yrs

A recent survey by NASSCOM has revealed that IT and BPO industry is expected to grow 15 to 20 per cent in the coming five years. This will also give a rise to employment up to eight million.

Lakshmi Narayanan who is the vice chairman of Cognizant and also former Chairman of NASSCOM said that Tamil Nadu has got the maximum number of potential IT and BPO locations out of which three are in the “Challenger segment.”

The survey done has also put in front that if the state governments concentrate on developing infrastructure, then the industry can also flourish in other 50 cities in the country.

Quatrro BPO acquires UK-based Babel Media

Indian Outsourcing giant Quatrro BPO, along with hedge fund DE Shaw group, has acquired UK-based Babel Media- a provider of specialist outsourced services to gaming and interactive entertainment industry.

Under the deal, Quatrro has acquired a majority stake while DE Shaw & US-based hedge fund has picked up a minority stake in Babel.

This is Quatrro's sixth acquisition, which is part of company's strategy of entering new domains and areas for outsourced services. The deal is estimated in the range of $25-30 million (Rs. 110-130 crore).

As part of the transaction, Babel's co-founder Algy Williams will take the role of a non executive Quatrro director.

The acquisition has been funded through both debt and equity.

BT Group arm secures $ 650 million contract from Procter & Gamble

BT Group arm secures $ 650 million contract from Procter & Gamble
British Telecommunications plc (BT), a wholly-owned subsidiary of BT Group has signed a $650 million, five-year contract with Consumer packaged goods manufacturer Procter & Gamble (P&G), for providing information technology services.

Genpact enters training business; forms JV with NIIT

Genpact, a BPO (business process outsourcing) company in India, and NIIT, Asia's No. 1 trainer and leading Global Talent Development Corporation have announced the launch of a joint venture ‘NIIT Institute of Process Excellence’.

According to the company, the institute is designed for aspiring students to build sustainable careers in the growing business and technology services industry. Further, the new venture aims to address the demand for skilled workers in the same industry by providing training programs in relevant areas.

Bihar sets up a rural BPO to stop migration

Madubani (Bihar), May 29: In an attempt to provide employment opportunities to the locals and to stop them from migrating to other states, Bihar has set up a Business Process Outsourcing Unit (BPO) in a remote village of the State’s Madhubani District.

The BPO at Saurath Village has empowered locals.

The employees are mostly Hindi speaking, but they admit that they are learning to speak English also.

It is indeed fascinating to see homemakers and labourers working efficiently at the call centers.

Airtel Signs 3-Yr Outsourcing Pact With Firstsource Solutions

Country's largest private telecom operator Bharti Airtel has signed a Bharti Airtelthree-year outsourcing contract with BPO services provider Firstsource Solutions for providing voice and back office services to its 66 million mobile customers.     

Under the deal, valued at $35 million, Firstsource would supply a suite of BPO services, which covers up both voice and back office in fields including customer accounting, VAS provisioning, fraud and credit monitoring, customer service, collections, customer retention and from its centres in Chennai and Mumbai.  

Firstsource Solutions to create 800 new jobs in Northern Ireland

First Source

Firstsource Solutions, the ICICI Bank-promoted Indian BPO major, plans to create 800 new jobs in Northern Ireland by establishing a new centre of excellence and expanding its existing operations in Londonderry.

The company has announced that around 300 of the new jobs will be in Londonderry where the company already employs 350. The remaining 500 jobs will be based in the company's European Centre of Excellence. The company will commission the centre in the region in a short duration.

Further, the company has received £6.7 million (about Rs 54 crore) grant aid from Invest Northern Ireland, a regional economic development agency.

Tricom India to acquire Godrej Global Solution

Tricom India Ltd

Mumbai-based Tricom India, an IT enabled services provider, has informed that the board of directors of the company approved acquisition of Godrej Global Solutions (GGSL), a subsidiary of Godrej Industries for a consideration of Rs 19.63 crore.

The company plans to fund the acquisition through a mix of cash and fully convertible debentures, entirely through the internal accruals of the company.

However, the acquisition will be completed in due course subject to approval from the shareholders.

Aegis BPO Services acquires AOL call center operation in Bangalore

Aegis BPO Services, an Essar Group company, has entered into an agreement to buy the call centre operations of Time Warner Inc-promoted AOL in Bangalore for an undisclosed amount.

The sellout is part of Time Warner Inc's global internet services and media company’s strategy to exit non-core businesses and concentrate on core business.

Under the agreement, Aegis will provide customer service and technical support to AOL customers.

Market analysts expect that this buyout will enable the Mumbai-based Aegis to enhance its voice and non-voice offerings in the tech support space.

Genpact’s Net Income Climbs 42%; Eyes Domestic BPO Market

India’s biggest BPO firm Genpact has declared results for the full year Mr. Pramod Bhasin, Genpact’s President and CEO2007, which showed the company’s growth from subsisting world-wide customers and from GE boosted profits.

The company has recorded 42% growth in net income at $56.4 million, which was 41.9% up from $39.8 million during the last year (2006).

Genpact’s yearly revenue stood at $822.7, up 34.2% from 2006, with organic growth (or revenue excluding acquisitions) of 27.7%, whereas the adjusted income from operations margin boosted 50 basis points to 16%.

Firstsource signs $ 80 million outsourcing contract with Barclays PLC

BPO service provider Firstsource Solutions Ltd. has entered into an $80 million, five-year outsourcing agreement with Barclays PLC. for credit card business.

As per the agreement, Firstsource will manage and operate Barclays operations center in Colorado Springs and provide customer care and collections support to Barclays U.S. Cardholders.

The partnership is expected to provide Barclays with increased operational efficiency and flexibility, and help both companies support their expanding operations in United States.

IQMS Software bags Outsourcing Contract

IQMS SoftwareIQMS Software Ltd Ltd has announced that the company has bagged a contract for the outsourcing of 35-seater centre for Equity Research on 24*7 basis. The contract value is directly linked to the output of the research work churned by the Company.

To meet the requirement, the Company has already started the recruitment process for Equity Research Analysts to be stationed at its state of the art center located at Hyderabad.

Wipro Infotech secures 9-year-outsourcing contract from Aircel

Technology & BPO Wipro Infotechgiant Wipro has announced that its unit Wipro Infotech has won a 9-year outsourcing contract from Chennai-based Aircel, a Maxis group company.

Wipro Infotech, the company having presence in India, Middle East and Asia Pacific in IT Business, is a leading provider of IT solutions with a comprehensive suite of offerings.

While, Aircel, a domestic telecommunications company currently operates in ten circles across India and has an estimated 9.5 million subscribers. The company also has licenses to expand its presence in 13 additional circles over next 18-24 months.

Spanco enters domestic BPO Services in India

Spanco Telesystems and Solutions Ltd, has announced that the company has forayed into the domestic BPO segment through its new venture -- Spanco BPO. The new venture has set up two flagship customer support centers in Gurgaon and Mumbai to provide back office and contact centre services to domestic clients, a release said.

Spanco BPO plans to invest over Rs 400 crores in order to increase its presence across India over the next two years. The company will set up facilities in various cities across India including Chennai, Jaipur, Mysore, Ahmedabad, Lucknow and Noida.

Study Confirms ‘India’ As A Rising BPO Hub

A recent study has discovered that India is emerging as a BPO hub. India not only explicates three out of five top known worldwide outsourcing destinations, but also has the maximum number of rising cities in this field.

According to a study by CyberMedia’s Global Services magazine, the top five well-established hubs for outsourcing include Bangalore, India's National Capital Territory, Manila, Mumbai and Dublin.

Indian IT Business A Pampered Lot, Says Kamal Nath

New York: While lecturing at the Pravasi Bharatiya Divas, a yearly event organised by the Ministry of Overseas Indian Affairs to bring the Indian Diaspora together, Kamal Nath, minister for commerce and industry said, “The Indian IT business has been pampered for a long time. There is a disconnection between the IT sector and the rest of India.”

While responding a question asked by a delegate at the meeting on how the Indian IT businesses will expand post 2009 when the tax benefits the industry presently enjoys are inhibited.

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