India-based business process outsourcing services company ExlService has announced its plans for inorganic growth in Eastern Europe, as reported by the Economic Times.
According to Indo-Asian News Service, Rohit Kapoor, co-founder and chief operating officer at ExlService said: Acquisitions in Europe will be primarily for our finance business. The ideal deal size for the acquisitions would be companies with revenues of $10-25 million. We have about $91 million in cash on our balance sheet right now, and we have currency as stock that we can use as well.
In July 2006, the company strengthened its presence in financial and insurance services by acquiring Inductis.
Mr Kapoor said: We want to do domain-specific work, primarily back-office and transaction-based work in India. Our domestic business will primarily be in the domain that we are already in, which is insurance, banking and financial services, telecom, transportation and utilities.
Further, the company plans to setup large-scale campuses in Hyderabad and Noida, India. Additionally, it also plans to open a delivery centre in the Philippines with an investment of $10 million. The centre is expected to be operational by April-May 2008.
Source: ComputerWire daily updates