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WNS global acquires Trinity Partners
By agencies
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Thursday, 10 November 2005, 20:30 IST
NEW DELHI: In order to strengthen its presence in the mortgage BPO market, WNS Global Services acquired the Arizona-based Trinity Partners, the BPO and IT business solutions provider to financial institutions.
With this acquisition, WNS added six clients of Trinity and a five-year outsourcing contract with wholesale lender, First Magnus Financial Corporation worth $60 million and 500 employees of Trinity.
The new business would be known as WNS-Trinity Mortgage Services and would function as a key business unit of WNS Global. The company would deliver multiple services across mortgage value chain, including lead qualification, loan set-up and processing, risk management, post closing, document indexing, quality control and customer service.
It would also deliver solutions to the lender services sub-vertical, including title, escrow, credit, insurance appraisal and flood. Initially it will serve the mortgage banking vertical with future expansion planned in the retail banking and asset management arena.
Announcing this, Chief Financial Officer of WNS Group, Zubin Dubash said, Trinity employees who are currently based in Gurgaon will move to the newly opened WNS' Gurgaon facility within the next four months."
Declining to divulge the size of the acquisition both the companies said that Trinity had a positive profit after tax.
Commenting on the expansion plans of WNS, Dubash said, We are expecting to reach the total headcount of over 10,000 employees by March 2006 from 8,500 at present."
Whereas, on WNS' plans to go for public offere in future, Dubash said, The company is substantially owned by Warburg Pincus. Private investors look for an exit and that can happen in many forms. IPO is one of the forms.
