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Spanco Telesystems and Solutions Ltd has entered into an agreement with Spice Televentures Ltd. to set up an onshore domestic BPO company, touted as being Indias biggest.In a regulatory filing, Spanco said that Bharat BPO, which is a joint venture JV between Spanco and Spice with equal shareholding, will merge its domestic BPO business with Omnia BPO part of the USD1.5 billion Spice Group and Spancos BPO business.
The JV company, Spanco said, will focus on high growth sectors such as banking, financial services and insurance BFSI, telecom, travel and eGovernance.
The new entity, Spanco said, shall operate in the field of ITeS,BPO and will offer backoffice and contact center services.
Each of these BPOs Bharat BPO and Omnia BPO specializes in specific market and vertical segments and their coalition will lead to a synergistic value proposition for clients, enabling them to address diverse target segments through one organization, it said.
One of the prime motives for the merger was to get the scale and leverage the complimentary skills of the merged entities, said Pravin Kumar, CEO, Omnia BPO.
According to Kumar, Omnia had a good presence in the domestic travel and telecom sector, while Spanco is strong in the BFSI banking, financial services and insurance vertical and Bharat BPO has a strong client in Indian Railways.
We were trying to establish Omnias presence in the BFSI sector, in which Spanco is already strong with around 2000 people. On the other hand, Spanco was not present in the travel and telecom sector. The merger will ensure a healthy presence in all highgrowth verticals, he added.
Agrees Dilip Modi, chairman, Omnia BPO. The winning chemistry between our management teams will provide an added impetus to our combined client base and resources in the future, Modi, who will be the chairman of the new JV company, said.
Unless we attained scale, we realized we will not be able to compete effectively. We had the option of investing in infrastructure and expanding our scale, but this wouldve taken time. So we decided that this was the best way to get to a leading position, said Kapil Puri, Spanco Telesystems and Solutions Ltd. Puri will be the vice chairman of the new JV company.
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