Mphasis to acquire Indian wing of AIG

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Mphasis
New Delhi, Aug 12: MphasiS, a leading IT and BPO service provider has reportedly reached an agreement to acquire AIG Systems Solutions (AIGSS).

The company said that it is ready to buy the troubled insurance giant American International Group Inc. Although the financial details of the deal were undisclosed.

"This acquisition gives MphasiS the depth and breadth for us to be the preferred partner of choice in their IT transformation," MphasiS President Applications Services Business Unit Gopinathan Padmanabhan said.

By acquiring AIG Systems Solutions which is an India-based provider of information technology services and solutions to AIG companies worldwide, Mphasis aims at provide innovative services to improve customer service, operational efficiencies, reducing time to market and increasing customer satisfaction for insurance clients.

With this news, Mphasis was trading higher at the Dalal Street on Wednesday, Aug 12. The company's shares surged over four per cent o Rs 522 in early trade.

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