Hinduja Global Solutions (HGS), a leading provider of outsourcing solutions, has acquired 100% of the equity shares of HCCA Business Services, a prominent player in Human Resource Outsourcing (HRO) domain, from 3i Infotech. The transaction also includes the Payroll Processing activities of 3i Infotech in UAE and other Gulf Council countries. For the year ended March 31, 2011, these businesses reported revenues of Rs 28.78 crore.
HCCA Business Services is a leading HRO provider servicing marquee customers in Banking, Financial Services, Insurance and other industry verticals. HCCA offers payroll, statutory compliance and employee life cycle support to over 350 clients in India. HCCA a profit making company, currently has more than 500 employees. Harish Chopra, founder of HCCA and current CEO, will now become a part of HGS and drive the HRO practice.
This acquisition marks HGS’ entry into the HRO domain. It builds on HGS’ global delivery capabilities and presents both companies an opportunity to cross-sell to their existing clients. Consequent to the transaction, HCCA would become a wholly owned subsidiary of HGS. This also enables HGS to get a footprint in the Middle Eastern market.
The HCCA transaction is the second acquisition by HGS in this month. Earlier this month, HGS had acquired On Line Support Inc (OLS) a profit making Canadian customer relationship management company with FY 2011 revenues of C$63.4 million. These two acquisitions, will add revenues of around $68 million annually to HGS. This will take HGS’ revenues from $242 million in FY 2011 to $320 million on an annualized run rate basis. i.e. an increase of over 30%. As both the acquisitions have healthy profits, the overall EPS of HGS is expected to increase.
| Company Name | CMP |
|---|---|
| Quess Corp | 640.95 |
| eClerx Services | 3317.35 |
| Info Edge | 7515.35 |
| CMS Info Systems | 483.35 |
| Affle (India) | 1549.20 |
| View more.. | |
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