Indian IT company plans big in Michigan

US based outsourcing firm Integreon, which has a presence in India, is on the lookout for acquisitions here. Investment banking sources said the company is in talks with domestic knowledge process outsourcing KPO and business process outsourcing BPO firms and at least two small buyouts for a total of USD50 million are likely to be sealed during the current calendar year.

Further, the company plans to double its India headcount from the current 1,500 in the next three years.

On the cards is another outsourcing centre in Mumbais Goregaon area with a capacity of 1,000 seats.

It currently has three centres in the country two in Mumbai and one in Gurgaon.

Liam Brown, president and CEO of Integreon in the US, said, We want to grow our business in India due to the tremendous growth potential. We are actively in talks with a few firms for inorganic growth, too, and will be able to provide details once things are finalised.

Integreons keenness to grow in India is understandable given that the country accounts for almost 60 percent of its sales.

Analysts said Integreon has to grow inorganically to consolidate its expertise in the areas of KPO and legal process outsourcing LPO, and tap the sectors and customers to a greater extent. India is a preferred destination for LPO because of the huge difference in the wage rates here and those prevalent in the US and the UK.

Earlier, in July 2005, Integreon had acquired Brahmy Solutions, a UKbased, highend analytics company. It also acquired a part of the LPO business of New Yorkbased BPO major Bowne, which provides financial publishing that year. In April 2003, Integreon acquired Contentscape, a company specialising in web content design and development.

Source : offshoringtimes.com