Diversified conglomerate Hinduja Group, which claims $23 billion in annual revenues, is planning to expand its outsourcing business through acquisitions in the US and the UK, utilising the cash chest of Rs648 crore at its BPO arm.
Hinduja Global Solutions (HGSL), a leading outsourcing solutions provider and the outsourcing arm of London-based Hinduja group, is in talks to acquire two outsourcing firms - one in the UK and the other located in the US.
According to the Hindujas, the UK firm had sales of around £25 million (Rs170 crore), while the US company had sales of $250 million (Rs1,000 crore).
HGSL is sitting on a cash chest of about $138 million (Rs648 crore), of which $128 million (Rs577 crore) is deposited in two overseas Indian banks by its 100 per cent owned Mauritian subsidiary Pacific Horizon.
Based in Bangalore, HGSL serves over 80 clients through its centres in India, the US, Canada, the UK, Mauritius and the Philippines.
It employs over 15,000 people globally, out of which 2,500 are at the Chennai facility. The company currently serves BFSI, health care and telecom among other verticals.
Last month, it opened a 15,000 square feet, 400-seater delivery centre at Nagercoil in Tamil Nadu.