Mumbai-based business process outsourcing firm Accentia Technologies Ltd is planning to chase an inorganic strategy to build its presence in the legal process domain. The company is currently in talks with some prospective companies, and is expecting to close a couple of deals in the next few weeks, it said in a statement.
The development came close on the heels of Sutherland Global Services, a transnational BPO company, acquiring Mumbai-based Adventity Global Services for a reported consideration of around $55 million.
Accentia is looking at firms that provide services to companies in the US, UK and Canada. The acquisition is part of company’s plan to foray the legal process outsourcing space. It currently operates in the healthcare space.
The company plans to generate around 3,500 employment opportunities in the next 18 months, including 500 hires through legal process division, the statement added.
Ravi Sankar, director, corporate planning, said, in the statement, “We are in advanced stages of negotiations with a few established LPO companies, and are confident of acquiring a couple of them in the next few weeks. The acquisition will spearhead Accentia as the only major player having BPO operations in both healthcare and legal space.”
The company believes the acquisitions will also help it in expanding its operations in the US, UK, Canada, Australia and South Africa. Accentia currently has units in Portland, New Jersey, UAE in the overseas markets, besides domestic presence in Bangalore, Hyderabad, Kolkata, Chandigarh, Bhubaneswar, Trivandrum, and Koci, among others.
Earlier, it acquired two firms in the US, two in Bangalore and one each in Kolkata, Hyderabad and Kochi. It currently has over 2,000 employees, and aims to increase the strength to 15,000 in another 2 years.