| The amount will be utilised by Datamatics for funding its overseas expansion plans an IL&FS media release said. Sources close to the deal said the equity had been picked for around $3 million. |
| Il&FS invested in Datamtics owing to its emergence as the largest third party pure-play BPO in the country after its acquisition of Corpay Solutions Inc. The US-basd Corpay is a $13 million company specialising in finance and accounting BPO services. |
| We believe that there is tremendous growth potential for Datamatics Technologies as it is at the forefront of the BPO wave. |
| The robust order pipeline coupled with DTL's domain expertise and roster of clients will ensure shareholder wealth creation. |
| The investment is in sync with our overall strategy of investing in mature companies in technology space," Shazaad Dalal, vice-chairman of IIML, said. |
| IIML has invested Rs 30 crore in three BPO companies to date, each specialising in different segments. It currently has around Rs 800 crore of funds under management. |
| Datamatics operates in publishing, finance & accounting, human resources, insurance and healthcare domains. It has also increased its stake in US-based Saztec from 47 per cent to 100 per cent. |
| It plans to focus on growing both organically and inorganically for which it may raise additional funds, including through the IPO route. |
| Datamatics also recently entered into a joint venture with Nasdaq-listed Cadmus Communications Corporation, a leading provider of publishing services to form KnowledgeWorks Global which provides a full range of content processing, content management, and related services to scientific, technical and medical publishers and other organisations around the world, the release said. |
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