Hinduja Global Solutions on Wednesday announced that it has signed definitive agreements with leading IT services provider Mphasis Group to acquire a significant portion of their domestic business.
The acquisition of significant portion of their Business Process Outsourcing (BPO) business as a going concern on a slump sale basis for consideration of Rupees Seventeen Crores only.
The closing of the Transaction is subject to fulfilment of conditions stipulated in the agreements and regulatory approvals as may be required.
Upon completion, the acquisition will strengthen HGS' presence in India by adding newer service capabilities and marquee clients in the telecom and banking & financial services (BFS) verticals while bringing in over 7,000 customer experience professionals, the company said.
Shares of Hinduja Global was seen trading at Rs 494, higher by 1.52 per cent on BSE at 12.10 PM IST.