Godrej picks up U.S. BPO firm

By agencies   |   Monday, 04 April 2005, 19:30 IST
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MUMBAI: Godrej Global Solutions, the wholly owned subsidiary of Godrej Industries, has acquired U.S.based Outsource Offshore Inc for an undisclosed sum. The acquisition will strengthen the group's global base in IT operations. Outsource Offshore specializes in health care transaction processing, data capture solutions and IT enabled off shoring services. It has over 300 employees on its rolls. The acquisition strengthens the group's presence in health care. The group has been operating in this area through Godrej Remote Services. This arm was merged with Cbay Systems, following which the Godrej group holds around 12 percent in Cbay Systems. * "We have signed a deal to acquire Outsource Offshore Inc," a Godrej group executive said. The company, however, declined to furnish any details. Not only does the acquisition beef up the group's presence in the IT industry, it also strengthens its global base. Outsource Offshore has its global operations center in Chennai. The slowdown in the fast-moving consumer goods industry and the need to capitalize on the IT boom has prompted the group's foray into the sector. The group has been acquiring controlling as well as non-controlling stakes in several IT companies. Apart from Cbay Systems, the $2 billion group has interests in Geometric Software Solutions, Godrej Upstream, Compass Connections, KarRox Technologies and Personalitree Academy. The group has identified Godrej Industries as the vehicle for new economy business.