MUMBAI: Zensar Technologies Ltd, an IT and BPO services provider, today said it has received a seven million dollar (over Rs 28.27 crore) insurance deal from a South African insurance company.
With this deal, Zensar's insurance business reaches the 10 million dollar mark, having won a three million dollar contract from a US mid-west-based provider of insurance products, and a million dollar initial contract for BPO service from a Latin American insurance client.
"We are delighted to take our business in the 'Insurance Vertical' to its 10 million dollar mark, with the acquisition of a new insurance account in South Africa," Zensar Technologies Deputy Chairman and Managing Director Ganesh Natarajan said in a communique to the Bombay Stock Exchange.
Read more in The Economic Times
Tuesday, August 07, 2007
Zensar Tech bags 7 mn dlr insurance biz
Quatrro gets foothold in US mortgage sector
NEW DELHI: In what could be another game-changer for the Indian business process outsourcing (BPO) industry, Raman Roy-founded Quatrro BPO Solutions, on Tuesday, announced the acquisition of mortgage loan processing operations and platform of USA-based Preferred Financial Group, Inc.
Post the acquisition, Quatrro would become the first BPO offering from an Indian company that pursues the onsite-offsite model - the business model that has found favour with the software services industry in recent times. "We will be acquiring the technology platform, the people and the origination business of the US partner and that would also enable us to provide end-to-end fulfillment services to mortgage lenders across the US," says Quatrro Promotor Raman Roy.
The acquisition will be closed through Quatrro Mortgage Solutions - a subsidiary of Quatrro BPO Solutions and will allow the Indian major to provide quality service at a price-point projected to be 30 per cent to 50 per cent lower than current processing costs in the United States.
“This coming together of two successful organizations with talented people and great business acumen is in line with our creating value by innovation strategy, which involves attracting and supporting entrepreneurial management teams by building high-end third party businesses in underserved and uncontested market spaces,” adds Roy.
Read more in The Economic Times
Sunday, August 05, 2007
Genpact soars 20% in debut trade on NYSE
Shares of India's largest BPO Genpact surged nearly 20 per cent over its issue price in its debut trade at the New York Stock Exchange (NYSE).
The scrip settled at 16.75 dollars, up 19.64 per cent over its issue price of 14 dollars a share, after touching an intra-day high of 17.10 dollars at the NYSE on Thursday.
Global consultancy Dealogic has termed the initial public offering of Genpact, a spin-off of General Electric Company, as the 11th biggest IPO in the US so far in 2007.
Read more in Financial Express