Hinduja Global Solutions (HGSL), the BPO arm of the Hinduja Group, is aggressively looking at customer relationship management (CRM) companies, both within the country as well as abroad, for acquisitions.
HGSL, which is sitting on cash of $125 million, targets companies in the similar field in the US, Britain and Latin America, its chief executive Partha Sarkar told PTI here today.
He said the company's acquisition targets are those companies which are of the same size of HGSL. It had paid 4.5 million pound for taking over of England-based Careline Services and there will be a deferred payment on the basis of performance, he said.
The company aims to double its manpower from 16,000 in the next two years, and acquisitions are one way of achieving it, Sarkar said.
The company has buyout plans in China too, he said,adding since there is hardly any scope for inorganic entry into China, HGSL will focus on setting up a new center there. But he refused to give a timeframe.
As of now the company has 12 centres in the country, six in the US and three in Britain. The company will open a new centre in Manila soon, he said.
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It employs over 10,000 in the country. When asked whether HGSL is eyeing any acquisitions in the country, Sarkar refused to comment saying the listing laws wouldn't permit him to do so.
The lower valuation of many European CRM companies due to the Eurozone crisis has opened up a big scope for the company, he said. "But our approach will be prudent rather than aggressive," he said.
The fund raising plans will depend on the size of the acquisition, he said, adding the company has earmarked Rs 60 crore for capex for this fiscal.