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Trianz Inc and Vee Technologies, a premier BPO services-provider based in Bangalore has announced an Memorandum of Understanding (MoU) to create a financial services BPO.Trianz provides consulting, information technology and BPO services to clients in high-technology, insurance, banking and life-sciences industries.
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The back-office arm of Infosys Technologies Ltd, Indiab s second largest software services firm, said it would pay USD58 million to acquire McCamish Systems Llc, a US business process outsourcing (BPO) firm focused on the US insurance industry.The acquisition, which includes a team of 260 people in Atlanta, Georgia, would help Infosys tap business from US insurance companies that have traditionally been reluctant to outsource work to countries such as India, said an analyst.
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With around 500 firms sending out promotional messages or calling up for bill payment reminders, the domestic call centre market is seen growing 33 per cent per year to top $6.82 billion by 2013, says leading global market research and analytics firm IDC. This apart, the domestic call centre industry, now estimated at $1.62 billion, will also evolve into a third party outsourcing relationships from the existing model where such work is largely done by companies themselves.
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Kale Consultants Ltd, a leading solutions provider to Airline, Logistics and Travel ALT industry, announced that it has entered into a multiyear outsourcing contract with Wataniya Airways, Kuwaits new full service luxury airline. As part of the deal, Kale will deliver complete outsourced revenue accounting and passenger audit services from its delivery centre. Kale will put into service its industry leading passenger revenue accounting solution REVERA, as the backbone of this platformbased BPO deal. Kale will provide services to the airlines from its Managed Processing Services centres in India.
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Indiab s fourth largest software services firm, HCL Technologies Ltd, has won a USD200 million deal that will span 30 years from Equitable Life Assurance Society, a UK-based insurance providerWhile the main part of the contract will kick in around March 2011, HCL expects to earn around B#8 million till then through preparatory work required to set up systems and processes required, said Stuart Drew, a senior vice-president at HCL. He added that HCL was chosen from among 11 firms in a selection process that lasted a year.
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Aditya Birla Minacs, the BPO arm of the AV Birla group, is targeting a two-fold jump in turnover at USD 1 billion by 2013 with its three-tier strategy. It also plans to focus on the non-voice BPO business.We plan to increase engagements with other Aditya Birla group companies, besides growing organically. We are also looking for potential acquisitions in the non-voice BPO business, Deepak Patel, CEO of Aditya Birla Minacs, said today on the sidelines of a programme organised by Nasscom.
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Isys Softech Pvt Ltd, a joint venture of US based healthcare practitioners Practiceforces and Medfin, is planning to invest Rs 5 crore for setting up an offshore medical processing unit in Jaipur , Rajasthan.The facility, spread across 6,000 sq ft in Mahindra World City, is likely to hire 200 BPO professionals in the first phase.
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The State government, which is on an ambitious course to ensure setting up of business process outsourcing (BPO) units, was holding talks with at least five companies, both domestic and international, and the details would be announced by the first week of December, said Information Technology Minister Dr Poongothai Aladi Aruna.
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Back-office services provider Genpact has bagged a five-year contract from telecom operator Unitech Wireless to provide multiple customer service solutions to the latter. The BPO firm, however, did not disclose the size of the contract. Under the five-year contract, Genpact will deploy customer service solutions for Unitech Wireless in North India through its operation centre in Jaipur.
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The dip in business from Western markets has regenerated the interest of business process outsourcing (BPO) industry in the domestic market, according to report by research firm IDC. The country's domestic BPO market, with nearly 500 players, will grow at a compound annual growth rate (CAGR) of 33.3 per cent to touch revenues of $6.82 billion by 2013, up from $1.62 billion in 2008, the report says.
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Indiab s second-biggest software exporter Infosys Technologies has acquired the US-based back-office firm McCamish Systems for around USD38 million in order to tap into over USD5-billion insurance services market in the country. Atlanta-based McCamish, which counts the Nolan Financial Group, Phoenix Companies and Heritage Union among its top clients, will help Infosys not only to increase its revenues from insurance customers, but also position the Indian offshore firm as a more local company. A local arm will address concerns of anti-offshoring lobbies more effectively.
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Wipro is looking at acquisitions in the business process outsourcing (BPO) space, its joint chief executive Suresh Vaswani said. The company sees robust deal pipeline on the back of improving demand for IT services worldwide. b The deal pipeline is good and we are actively scouting for acquisition in the BPO space as it will drive growth of the IT industry going ahead,b Vaswani said on the sidelines of Indian Economic Summit, 2009.
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Amidst job losses and recession, Indian call centre major Firstsource has spread more cheer in Northern Ireland by creating 100 more jobs at its centres there.The company already employs 1000 people at its base in Londonderry and 400 in Belfast. In May 2008, it had created 800 jobs, which was widely hailed in the region.
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With the market witnessing recovery, major Indian BPO companies. Genpact, Infosys BPO and HCL, are looking at acquisitions in China and Europe. Genpact, which recently started focusing on the domestic market, is looking for acquisitions in India and other markets across various verticals such as supply chain, healthcare, captives and accounting and financial services.
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Nasdaq-listed BPO firm EXL Service Holdings on Friday announced acquisition of American Expressb travel services captive in India for $30 million, and reported a 13.7% rise in revenues at $48.2 million during the third quarter ended September 30, 2009.The companyb s net profit during quarter also improved to $4 million, as against a loss of $1.1 million in the same period last year.
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Infosys BPO will set up a new delivery centre in the United States before the end of this financial year.The $300 million back-office services wing of Infosys has eight delivery centres across the globe, including in Mexico, but it did not have a center in the US so far. Swaminathan Dandapani, senior vice-president and head of global service delivery says that the US delivery centre was the next logical step.
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Sciformix Corporation, a leading provider of knowledge process outsourcing KPO services for the life sciences industry, today announced it has completed a 3.3 million Series A round of financing led by Flybridge Capital Partners.Sciformix utilizes a global, cost optimized business model to provide high quality KPO services in the areas of drug safety management including, pharmacovigilance, biostatistics, clinical data management, and medical writing and regulatory document management. The company is led by a seasoned and successful executive team, which includes CEO, Dinesh Thakur and Chairman of the Board, Ajit Nagral who was the former founder of NuGenesis Technologies.
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From mere typesetting, the Indian publishing BPO services industry is fast moving towards offering value-added services such as editorial work.The digital explosion has opened up several offshoring options including end-to-end operations starting from typesetting to graphics to physical printing of the content in India. b India, especially Chennai, is the hub of the publishing BPO industry. Overall revenue for 2008 stood at USD660 million,b Sriram Subramanya, founder, managing director and chief executive officer of Integra Software Services, said.
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Sparsh BPO Services, the domestic BPO subsidiary of Intelenet Global Services Intelenet announced the launch of its second delivery centre in Bangalore.The 450seater centre located at Hebbal in Bangalore further expands Sparsh`s presence in the city and provides proximity to key customers in the Southern region.
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