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Infy acquires Philips' captive BPO arm

Infosys has bought the captive BPO division of Philips, sources said.

Philips BPO has centres in Chennai, Warsaw and Thailand, sources said, adding that it has 1,500 employees.  700 employees will be based in Poland.

The deal is likely to be between USD 200 and USD 300 million, sources said. With the acquisition, Infy can look forward to assured revenues of USD 300 million, sources added.

The acquisition will add to finance and […]

General Atlantic puts $60 mln in India software co

Private equity firm General Atlantic has paid $60 million for a minority stake in India's IBS Software Services, the Indian firm said on Wednesday. IBS, which provides services for the travel, transport and logistics industries, has two development centres in India. Edelweiss Capital was the financial adviser to IBS. In a separate deal, venture capital firm Canaan Partners said it had led The Entrepreneurs Funds and Miven Venture Partners in buying a minority stake in Indian career networking portal techTribe. It did not disclose the value of the deal. […]

PE capital, the India experience

After growing rapidly from around $1 billion in 2004, private equity flows into India grew to $7 billion in 2006 and will probably exceed $10 billion this year. In addition to its traditional functions of providing smart capital to fuel the entrepreneurship of non-traditional businessmen and boosting managerial efficiency, PE is slated to enter into new areas such as leveraged buy-outs, distressed assets and infrastructure. We could also witness some public offers from PE firms. At present, there are over 100 PE firms seeking to deploy $20 billion in India. The PE industry has been able to attract talented professionals from major consulting firms, investment banks and industry in India and overseas. Some of the large deals have been KKR’s investment of $900 million in Flextronics, and the recent Carlyle investment of $600 million in HDFC. […]