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News >> Technology >>
Polaris back-office arm buys out Bangalore firm
By siliconindia
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Friday, 06 December 2002, 20:30 IST
Polaris Software Lab Ltd said Friday that its subsidiary Optimus Outsourcing Company Ltd has bought out iBackoffice, a Bangalore based back-office services firm, to give fillip to its fledgling business process outsourcing (BPO) service.
MUMBAI: However, the Polaris release did not indicate how much the company paid for iBackoffice which is also a relatively new entrant into the services.
The key investor of iBackOffice include Global Technology Ventures. "We have been looking at greenfield as well as inorganic growth strategies to launch our BPO initiative and this is a small beginning," the statement quoted Harpal Duggal, chief executive of Optimus as saying.
"This will give us a headstart in the fast moving field of business process outsourcing."
iBackoffice has ready-to-use infrastructure and skilled staff and Optimus is eyeing its client base including contracts in the pipeline, though no details were given.