Hindujas close to acquiring 2 firms

Business process outsourcing company Hinduja Global Solutions (HGSL) is hunting for acquisitions in the UK and the US, despite the global recession and is close to buying two companies, a top official said.“We are very close to acquiring two companies over the next few months, which would be a strategic fit to our existing businesses. These would be contact centres with some amount of voice and data processes,” PaBOtrick David, executive vice- president, global human resources strategy, Hinduja Global Solutions, said without divulging any further details about the acquisition.In 2008, the company’s chief executive officer Partha De Sarkar had said that four companies were short-listed for acquisition and around $110 million cash from internal accruals is earmarked from the purpose. He had also said that a company with revenues of $50 million would be ideal match for HGSL.David added that cash set aside for acquisitions remains the same and the company would be looking at an optimal structure for making the acquisition.Hinduja Global Solutions, part of flagship Hinduja Group, provides outsourcing services in the areas of banking, financial services and insurance, telecom and healthcare. The company employs about 9,500 people in India, which accounts for nearly 65 per cent of its total workforce. Telecom contributes about 80 per cent of the company’s domestic business.On a query on the impact of recession, David said the company has not seen any softening in business from existing clients.