Quatrro Acquires US Mortgage Processing Firm To Offer Onsite-Offsite Model
Wed, 08/08/2007 - 06:19 — Sahad P V
Acquisition by Indian companies overseas continue. Raman Roy's Quatrro BPO Solutions has announced the acquisition of mortgage loan processing operations and the technology platform of US-based Preferred Financial Group, Inc. The financial terms are undisclosed.
The deal is considered unique since Quatrro would become the first BPO from India to offer an onsite-offsite model. This path has already been taken by software services firms. "We will be acquiring the technology platform, the people and the origination business of the US partner and that would also enable us to provide end-to-end fulfillment services to mortgage lenders across the US," Quatrro Chairman Raman Roy has been quoted as saying.
Apparently this model will hep Quatrro give services at 30 per cent to 50 per cent cheaper than the US.
The acquisition will be done by Quatrro Mortgage Solutions, a subsidiary of Quatrro. PFG is a privately-held financial services corporation that originates, underwrites and funds mortgage products.
In April 2007, Quatrro had bought a majority stake in Chennai-based KPO firm Scope eKnowledge for an undisclosed amount. It bought out Mauritius-based fund eIndia’s stake in the 500 people firm.
Related:
Quatrro Acquires Majority Stake In Chennai KPO Scope eKnowledge
