News: i-flex to snap up BPO firms in Europe

(DNA 01/02/2007) Mumbai - Mumbai-based i-flex solutions is in talks to acquire two companies — one in France and the other in Greece — early next fiscal; both these acquisitions will be made in the financial BPO and knowledge process outsourcing (KPO) segments.

i-flex is increasing its focus on the BPO and KPO space.

Deepak Ghaisas, CEO (India Operations) & CFO, i-flex solutions, declined to comment.

The software exporter has chalked out major plans in the BPO space and has incorporated new firm — i-flex Processing Services (IPSL) — which will serve as the umbrella for all its BPO service offerings.

At present, BPO business accounts for less than 5% of the company’s revenues.

Recently, i-flex acquired Mantas Inc, a provider of anti-money laundering (AML) and compliance software and services headquartered in US, in an all-cash transaction of $122 million.

Also, the company expects more clients from Japan, Western Europe and the US. The new client addition has averaged 2-3 tier-I clients per quarter over the last few quarters, and the company expects to win more tier-I deals in these regions. i-flex products are used by close to 300 financial institutions spread across 200 countries.