WestBridge invests $4 mn in IGS

By SiliconIndia   |   Wednesday, 30 July 2003, 07:00 Hrs
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NEW DELHI: WestBridge Capital Partners has invested $4 million in Indecomm Global Services (IGS), a BPO focussed on health care administration and financial transaction processing. WestBridge led $5 million financing for IGS and included Acer Technology Ventures (ATV).
IGS has several ‘blue chip' health care and financial services customers in US, said a press statement on Monday. It said IGS possesses unique expertise in data capture and business rules related processing technologies and is a Cayman Islands company with operations in Bangalore and New Jersey.
WestBridge, which is a Mauritius based, US-India focussed VC fund that manages about $140 million, has identified remote services as a key area for investments and is ‘actively evaluating' companies in the Indian BPOs.
ATV represents VC arm of $12.5 billion Acer Group and manages $260 million IP Fund One.
Over the past few years, India has emerged as a major, global outsourcing destination because of a well-educated, English speaking and IT friendly work-force that offers quality services cheaply. Leading MNCs have set up their back offices in India, which has led to some opposition by workers back home. MNCs however make huge savings from outsourcing jobs to countries like India.

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