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ICS acquires Datagrid Services

Written by: Staff
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Hyderabad, Mar 23 (UNI) Ahead of locating its campus at Hyderabad, Infinite Computer Solutions (I) Pvt. Ltd, a IT solutions and services provider, today announced the acquisiton of Datagrid Services Pvt Ltd, a Hyderabad based USD two million BPO company in a cash- and- stock deal.

The company with USD 110 million acquired Datagarid with 250 people making it a wholly owned subsidiary. The strategic investment will enable the company augment its BPO services, especially in the Healthcare, BFSI and Legal Services verticals, and broaden its reach across the globe,according to CEO Upinder Zutshi.

It plans to increase its headcount to 900 by March 2007 improving its revenue to USD eight million at the Hyderabad campus to be built over a six-acre parcel of land alloted by the Andhra Pradesh Government. The company will invest USD ten million on the campus over the next three years, he said.

The acquisition, part of its growth strategy to be a USD 300 M organization with 9000 employees worldwide by 2009, will also help ICS consolidate its position as one of the fastest growing company in the IT services and BPO market.

''Acquisition of Datagarid Services will help us consolidate our position in the healthcare, financial and legal services space", he said, It also plans to upgrade its center at Pune and increase its head count in India to 2000-3000 over the next two years.

The company has been operating from Bangalore where it employs about 2000 people. With the company undertaking outsourcing for General Electrics it centres at Hyderabad and at Pune will be focussing on the delivery of products.

UNI DB VV SSI1620

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