Hutch sells Indian BPO unit to Tech Mahindra for $87.1 million
Hutchison Whampoa Ltd has sold its Indian BPO business to leading software services provider Tech Mahindra under a deal worth US $ 87.1 million.
Hutchison Global Services offers back office services to Hutchison's mobile businesses in the UK, Ireland and Australia, Tech Mahindra said in a statement. The Hutchison Global Services has a workforce of more than 11,500 employees across five facilities in the country.
Tech Mahindra, which is a part of India's Mahindra & Mahindra group, said that Hutchison Global has agreed to purchase services worth US $ 845 million over a period of five years. The outsourcing firm provides services to Hutchison's mobile firm Three in the UK and Ireland as well as Vodafone in Australia. It generates revenues of around $150 million and is likely to help Tech Mahindra expand its presence in the outsourcing segment.
UK's outsourcing group Serco had also expressed interest in acquiring the company however it was sold to the Indian IT giant by Hutchison, which once operated directly as a telecom service provider in India.