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News >> Technology >>
Orient Information's plans to takeover US BPO firm in limbo
By siliconindia
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Tuesday, 07 October 2003, 19:30 IST
MUMBAI: The Mumbai-based software services company Orient Information Technology Ltd has informed the BSE that certain differences have arisen between itself and the shareholders of the BPO company based in North America with whom the company had entered into a Memorandum of Understanding for an acquisition.
Orient Infotech was said to be in talks with Webhelp, a Canadian company, for acquisition.
Orient Infotech is initiating legal proceedings against the shareholders of the target company. Orient Infotech has also informed the BSE that the transaction envisaged in the memorandum of understanding might not materialize as envisaged.
Earlier Orient Information Technology had informed the bourses that it had entered into a memorandum of understanding with an unlisted BPO company based in North America to acquire a stake in the equity capital of that company.