In a recent acquisition Mahindra Satyam has bought vCustomer, a Business Process Outsourcing company, which is head quartered in Washington, US. The acquisition is worth USD 27 million. It is learned that Mahindra Satyam has taken over the total ownership of the BPO’s international operations. This acquisition is first of its kind after Satyam’s take over by Mahindra.
This move marks the foray of Mahindra Satyam into areas such as Retail and Consumer Electronic. The company is already in the BPO space but in different verticals. It is expected that the acquisition will give a boost to the technical support business of the company.
The Chief Executive Officer of Mahindra Satyam, C P Gurnani says that it is a great achievement for the company. He said that it is a defining moment for them during a period of come back. He added that it highlights the companies hunger to improve their domain depth and scale operations across the world across different verticals.
vCustomer, founded by Sanjay Kumar is based in Kirkland, Washington. Established in the year 1999, the company now has delivery centers in Philippines and India. For the last few months the operations of the company was in a halt. Sanjay said that vCustomer has gathered considerable expertise and has presence in different locations, in sectors such as retail and consumer technology. He noted that the team effort of Satyam and the willingness to invest in business growth with help them to grow and offer new services.
The acquisition forms a part of the consolidation in the industry that is expected to happen in 2012. Experts in the industry say that the industry will consolidate as it matures. This is as a consequence of the increasing demand from the part of the clients and the realization that scale can produce greater benefits.
Mahindra Satyam is a part of the Mahindra group, a leading business house in the country. Mahindra Satyam recorded an increase in revenue of 9 per cent in the third quarter ended December 2011. The revenue amounted to Rs. 1718 crores. The operational profit stood at Rs. 278 crore. The profit after tax was Rs. 308 crores and increase of 29 per cent QoQ. The employee strength was 32,280 as of December 31, 2012. This signals that the company is in the process of growth, with many new clients added to the list.