Mahindra Satyam, a leading global consulting and IT services provider, has announced the 100 per cent acquisition of BPO firm vCustomer’s International operations for $27 million. This is the first 100 per cent acquisition by Mahindra Satyam since it became part of Mahindra Group and marks the entry of Mahindra Satyam’s BPO operations into other verticals such as retail and consumer technology in addition to significantly enhancing technical support credentials, a statement said on Wednesday.
"The combination of vCustomer’s expertise in the retail and consumer technology verticals with Mahindra Satyam’s domain expertise and customer base will further strengthen the ability to address evolving market needs," the statement added.
C P Gurnani, CEO, Mahindra Satyam, commented: “This is a landmark moment in Mahindra Satyam's resurgence and reflects our investment appetite to enhance domain depth and global scale, across diverse verticals. The focus and operations of vCustomer maps perfectly with our global operating model - allowing for seamless integration and smooth transition of processes and associates.”
Commenting on the business outlook, Sanjay Kumar, Founder and CEO, vCustomer said: “vCustomer has harnessed formidable expertise and a diversified geographical presence across the retail and consumer technology sectors. Mahindra Satyam's synergy and commitment to investment in business growth will spur growth plans and help build new service offerings.”
Earlier, media reports suggested that Mahindra Satyam was close to buying 20-30% in Comviva Technologies, the mobile software development unit of Bharti Enterprises. A Bharti team in charge of selling its non-core business was in talks with Mahindra Satyam and the deal could fetch Rs 400-500 crore.
vCustomer Corporation, which offers customer care and technical support solutions, and is present in the retail, consumer technology, and communications sectors. It employs globally and is headquartered in Kirkland, Washington.