Top Indian BPO firm buys Compass BPO in UK
Top Indian BPO service provider and a subsidiary of the Aditya Birla conglomerate, Aditya Birla Minacs has bought the United Kingdom-based business process outsourcing company Compass BPO for an unrevealed amount. According to the Aditya Birla Minacs CEO Deepak Patel, in a report by the Economic Times, the new acquisition would help his firm to gain a strong footing in the finance and accounting (FAO) segment in several countries, including the United States, the UK, India and the UAE. Mr. Patel further told the media that following the acquisition, they would now be equipped to foray into new fields, such as the US government business as well as the food and beverage sectors elsewhere.
According to a report, presently the UK-based Compass BPO basically offers services in the finance and accounting (FAO) sector. The company has operational units in the United States, the UK, India and the UAE employing approximately 600 personnel. The BPO firm has been in existence for 11 years now and, according to Mr. Patel, is a profitable venture. Henceforth, the co-founders of Compass BPO, Mr. Mark Atkins and Mr. David McCullough, would also be a part of the Aditya Birla Minacs board.
With Aditya Birla Minacs acquiring Compass BPO is certain to amplify as well as strengthen the service portfolio of the top Indian BPO service provider, which is looking forward to offer BPO services that are platform-based. In fact, now Aditya Birla Minacs would mainly be providing the FAO services from its office in Mumbai, Bangalore and Chennai. According to Mr. Deepak Patel, buying Compass BPO is among the several acquisition plans chalked up by his firm. He further said that his firm is aiming to provide services in expensive and technically sophisticated areas like insurance, non-voice services and health-care.
It may be mentioned here that the firm has by now set a business objective of earning revenue of $1 billion the subsequent three years by means of organic as well as inorganic methods. Presently, the firm employs approximately 13,000 people and has operational set ups in India, Europe, North America as well as the Philippines.