3i Infotech buys out three companies

New Delhi, May 29 (UNI) Software services firm 3i Infotech Ltd today announced the acquisition of two BPO companies and a domestic company involved in cheque truncation for banks.

The company has picked up 50.5 per cent stake each in aok in-house BPO Services Ltd and aok in-house Factoring Services Pvt Ltd.

3i has also acquired 60 per cent stake in KNM Services Pvt Ltd for an undisclosed amount. KNM has several banks in public and private sector as its clients.

''These acquisitions strengthen our BPO operations. We have been talking about ramping it up,'' said company's Chief Financial Officer and Executive Director Amar Chintopanth.

The acquisition price was not available, but Chintopanth said the combined annual turnover of the two BPO companies was Rs 20 crore.

These companies have been acquired for their delivery capabilities in the area of credit cards and auto loans processing for the banking sector and claims and proposal processing for the insurance sector.

They have several private sector, public sector, foreign banks and insurance companies as their clients.

UNI