With the intention to gain its foothold in the lucrative gaming outsourcing market, Raman Roy led Quatrro BPO Solutions in alliance with hedge fund DE Shaw group, has acquired UK-based Babel Media, the online gaming and interactive entertainment services provider.

The proposed acquisition is Quatrro's sixth acquisition and industry experts believe that the take over deal will be finalized in the range of $25-30 million (between Rs. 110-130 crore).

While commenting on the acquisition, Mr. Raman Roy, chairman and director at Quatrro BPO stated, “This is our biggest acquisition in terms of profitability, topline and bottom line and I see this move as an integral part of Quatrro's agenda of 'Going Beyond the Existing' and building strategically important businesses in undeserved and uncontested market spaces. With this acquisition, we have bought India into the gaming testing and localization space.”

The acquisition has been funded through both debt and equity and also by D E Shaw that has a small share in Quatrro.

Babel employs over 500 staff and has offices in Brighton, Los Angeles, Montreal and New Delhi.

As part of the transaction, Babel co-founder Algy Williams will remain in the company as a non-executive director and shareholder, while former Electronic Arts VP and executive producer Richard Leinfellner will take over as CEO of the acquired gaming firm.

Discussing its future roadmap, Quatrro stated that the company is also planning a tie up with a US-based company which will be finalized soon and also evaluating 11 new verticals in India and will expand gaming in Eastern Europe.