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Godrej close to acquiring US BPO

Kavita Nair & Reeba Zachariah in Mumbai | November 09, 2004 09:27 IST

The Rs 4,000 crore (Rs 40 billion) Godrej Group is close to acquiring the US-based Outsource Offshore Inc, a business process outsourcing company focussed on the healthcare segment.

The Godrej group will acquire the BPO outfit through Godrej Global Solutions, a wholly-owned subsidiary of Godrej Industries. The acquisition will mark Godrej Global Solutions' entry into the BPO space.

The Godrej group has a presence in consumer products, foods, chemicals, engineering, home appliances and real estate among others.

Adi Godrej, chairman of the Godrej group, confirmed the development and told Business Standard: "We are currently conducting a due-diligence for a US-based BPO company. If it materialises, Godrej Industries will be making an investment in that company."

Godrej refrained from divulging the name of the company. An e-mail sent to Outsource Offshore Inc did not elicit any response. Sources close to the development said the due diligence process is being completed.

Outsource Offshore specialises in healthcare forms processing, data capture solutions and IT-enabled offshore services.

The company has its global operations center (GOC) located in Chennai. The company has an employee strength of around 400-450.

The Godrej group has been expanding its presence in the IT and ITES space. Godrej Industries has been identified as the investment vehicle for new businesses -- IT and biotechnology.

While Godrej Upstream  focusses on voice, Godrej Remote Services, Cbay Systems and Compass Connections operate in the non-voice category.

The group is planning to merge Godrej Remote Services with  Cbay Systems. In biotechnology, it has acquired a stake in the Bangalore-based Avestha Gengraine Technologies.

The group also has an investment the Mumbai-based KarRox Technologies -- an IT services company specialising in the call centre business. In the IT space, it holds a stake in Geometric Software Services.  The group also has a stake in Personalitree Academy, an e-varsity providing online soft skills training.

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