Fiserv launches Indian operations
By agencies   |   Thursday, 22 December 2005, 20:30 IST
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NEW DELHI: The U.S.-based Fiserv Inc, an IT solutions provider to financial services industries, announced its foray into the Indian market with plans to open a software and services facility. The company is also very keen on acquiring Indian firms with specific domain knowledge and processes to get a headstart in the market. Announcing their plans, Fiserv Global Services Group’s President, Arun Maheshwari said, “We are opening an IT and BPO facility in Noida that will cater to the parent company and the Indian market.” The company, which has acquired 130 companies worldwide in the last 20 years, is also looking at acquisitions in India. He said, “We want to replicate the strategy of acquisitions in India. We are talking to bankers and acquisitions can be in the IT or BPO sector. Fiserv would look at companies with domain knowledge and CMM Level 5 processes.” This will give us a quick start in the market. We are looking at acquiring companies that have 300-3,000 employees, with focus on the U.S. market, he added. Commenting on the organic growth plans; he said that the company was leasing a 100,000 sq ft facility with a capacity of 1,000 people initially. “The facility is getting ready and will be available within three months. We are currently working out of a smaller facility,’ he said.

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