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.

GGSL, is a global BPO Solutions provider and mainly has operations in healthcare, data capture and data conversion areas. The company currently employs nearly 650 people and has two facilities; one at Belapur in Navi Mumbai and the other in Chennai. It had reported topline revenue of Rs 16.5 crore in 2007-08.