Minacs plans to acquire overseas firms to expand client base

Aditya Birla Minacs, an India-based customized global BPO solutions vendor, is preparing for a number of acquisitions, particularly in the United States and Canada, with a view to enlarge its client base as well as obtain latest facilities. The BPO firm is exploring targets in the banking, insurance, finance and accounting as well as financial services sectors in the range of $2 million to $50 million and is prepared to spend some hundred million dollars for tactical purchases.

Quoting Minacs CEO Deepak J Patel, a website reports that they were not working on the contracted deals with a view to enhance their top-notch services. On the contrary, these transactions were aimed at facilitating the firm’s growth in the healthcare, banking and financial services, insurance, finance and accounting and collections, he added. According to the Minacs CEO, the firm was not keen on investing in the ordinary call center facilities. Citing an example, he said that they had recently taken over the UK-based Compass BPO with a view to reinforce the firm’s finance and accounting competencies.

According to Patel, just recruiting good professionals and having an appropriate business plan does not necessarily aid in getting new clients anymore. He was optimistic that the new acquisitions would enable the company to increase its client profile in these verticals. Minacs CEO was of the view that experienced professionals do help open the doors in verticals like healthcare, but it is really difficult to close a deal without staff potential that the prospective clients would interview to learn about the other healthcare clients they are already servicing.

Soon after Minacs Chairman Kumar Mangalam Birla handed over charge of the group’s IT and ITeS businesses to Patel, the company has launched an aggressive drive to recruit senior professionals from rivals and varied organizations like IBM, Mahindra Satyam, HOV Services, Progeon, Wachovia Bank and others. At the same time, the IT firm has adopted a policy decision to spend it money to acquire new firms in the United States and Canada as well as expand operations in India and the Philippines with a view to increase its profits.