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News >> Technology >>
MphasiS to buy U.S. BPO firm
By siliconindia
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Monday, 14 March 2005, 20:30 IST
BANGALORE: Bangalore based software services firm MphasiS BFL Ltd. Monday said it would buy Eldorado Computing Inc., a firm specializing in outsourcing for the US healthcare insurance industry, in an all cash deal worth $16.5 million.
Eldorado has 128 clients and its divisions had revenues of about $10 million last year, MphasiS said. The transaction is likely to be completed in the quarter ending March 31.
"This acquisition is part of MphasiS' overall business strategy to strengthen our footprint in the U.S. and to enter the healthcare insurance and payment market," said Jerry Rao, chairman and chief executive officer of MphasiS BFL.
"The deal is a perfect strategic fit for MphasiS as it provides a well-established software platform and healthcare customer base," Rao said.
"This is the foundation on which the combined entity will offer a complete portfolio of services to automate and outsource the processes related to healthcare management."