Making a debut in the business process outsourcing (BPO) space, IT major IBM has announced plans to acquire Daksh eServices, a BPO company based in Gurgaon near Delhi.
This is one of the first ever acquisition deal of this magnitude, where a US company is buying out an Indian BPO player. Though both IBM and Daksh were mum on valuation, market sources estimate the deal to be worth around Rs 700 crore. CDC (now known as Actis), Citigroup and General Atlantic Partners together hold 65 percent in the BPO company. The remaining stake in Daksh was held by the promoters. The sources said that Citigroup advised IBM on the deal. According to an IBM press note, the transaction is expected to close in May 2004 and is subject to Indian regulatory approvals.
The deal will enhance IBM’s business transformation capabilities in areas including customer relationship management and financial management services such as banking, insurance, retail, technology, telecommunications and travel.
This initiative will increase the scope of IBM’s global network of 22 business transformation delivery centres in the US and 12 other countries. Daksh eServices has BPO centres in Delhi, Mumbai and Philippines with offices in the United States of America and UK. The BPO company has a total headcount of over 5,000 people and till recently its chief executive officer Sanjeev Aggarwal was talking of an additional 4,000 people by 2005.
Aggarwal and the IBM spokesperson were not available for comments. The other largest BPO acquisition deal in India in the recent past has been of Spectramind by Wipro in 2002 for Rs. 470 crore.
National Association of Software and Service Com-panies president Kiran Karnik said, “The IBM-Daksh deal validates the robustness of the global delivery model for services. It signifies the coming of age of India as the preferred destination for offshore services. The deal also signifies the need for scale in the BPO market. However, there is substantial evidence from global markets that there is room for large and small players.”
Analysts from Gartner and Frost & Sullivan also see this as an example where the Indian BPO industry has been able to prove its robustness.
|
TechWhack on Facebook
|
November 13th, 2005 at 10:44 pm
hi this is khaja masi uddin sabri from hyderabad from nearly four months i am trying to get job in IBM daksh when first the company came in secunderabad consultancy “personal network” i had attend the interview but i din’t make the typing test. the job post was E-mail support after that i am eagerly waiting for this oppertunity like IBM daksh. if there is any requirement please send me a short mail.
i will be very thankful to you!
December 20th, 2005 at 11:06 am
Dear Sir,
I have been appointed as SCS in IBM Gurgaon through Additions Jammu vide appointed letter dated 18-12-2005 and they have asked to join the said place of posting on 28-12-2005. Kindly let me know where I have to report for joining and related information.
Sincerely Yours,
Shoukat Shafi
February 18th, 2006 at 12:39 pm
dear sir,
i passed the screening & written test held for the post of accounts analyst which was held in HOTEL ABAD PLAZA (KOCHI)..since i had earlier applied to IBM within 6 months period,i was rejected in the last moment..what are the chances of me joining in IBM?do i need to go for all the selection procedures again??
sankar
December 26th, 2007 at 10:25 pm
Sab mast bol rahe hain . Kisi ka angrezi achha nahi hai . Spectramind me ho jaayega lekin daksh me mushkil hai.
Raja Bakruddin Masti