Genpact completes Axis acquisition

India's largest business outsourcing company, Genpact, announced the completion of its acquisition of Axis Risk Consulting Services, a risk consulting company. Genpact had acquired Axis in June this year for an undisclosed amount.

This was Genpact's first acquisition in India. The acquisition will enable Genpact to add 80 clients across India, North America, Europe and Asia.

The details of the agreement have not been disclosed. The company had acquired the European SAP service provider ICE Enterprise Solutions in March for an undisclosed amount.

Axis will enable Genpact to expand its finance and accounting solutions portfolio. It will operate as an independent unit of the outsourcing company.

"The integrated risk and technology solutions that we'll offer our US and European clients as a result of this acquisition, will take care of a lot of time and costs associated with governance and risk management," said Genpact President and CEO Pramod Bhasin.

Axis Risk consulting managing director and founding partner Ameet Parikh will continue as its managing director. "There is a great synergy between the companies in terms of Genpact's access to global customers and our deep domain knowledge and experience in providing best-in-class risk consulting services. We will now have the opportunity to offer our internal controls and outsourcing solutions in the global market," he said.