HYDERABAD: Mahindra Satyam (MSat) is on an acquisition mode. The company said it acquired Kirkland, Washington-based vCustomer’s Corporation’s Business Process Outsourcing (BPO) operations for $27 million.
Recently, the company acquired a significant minority stake in Dion Global promoted by former Ranbaxy promoters for an undisclosed sum. Just last month, it signed a pact with a Japanese venture capital firm — SBI Holdings (SBIH) — to set up a $50 million joint fund to jointly invest in Information Communications & Technology (ICT) companies globally.
According to MSat, the 100 per cent acquisition of vCustomer’s BPO operation is the company’s first acquisition after Tech Mahindra tookover the fraud-hit Satyam Computer Services Ltd in 2009. The acquisition also marks MSat BPO’s entry into verticals such as retail and consumer technology in addition to significantly enhancing technical support credentials.
“This is a landmark moment in MSat’s resurgence and reflects our investment appetite to enhance domain depth and global scale, across diverse verticals. The focus and operations of vCustomer maps perfectly with our global operating model — allowing for seamless integration and smooth transition of processes and associates,” said C P Gurnani, CEO, MSat.
The company also said the combination of vCustomer’s expertise in the retail and consumer technology verticals with MSat’s domain expertise and customer base will strengthen its ability to meet market needs.
Sujit Baksi, Chairman, Mahindra Satyam BPO Board said, “The expertise of vCustomer aligns well with our operations and enhances our competencies. We look forward to collaborating and creating new benchmarks of excellence.” Sanjay Kumar, founder and CEO vCustomer added that vCustomer has a diversified geographical presence across the retail and consumer technology sectors and that MSat’s synergy and commitment to investment in business growth will spur growth plans and help build new service offerings.