Allsec Tech acquires B2K Corp

Healthcare and analytics business to remain a separate entity

Allsec Technologies, Chennai based BPO firm, has acquired B2K Corp, a Bangalore-based knowledge process outsourcing firm in an all cash deal. No financial details were disclosed.

B2K is an integrated contact centre with a 600 seat, 51,000 sq ft facility located in Whitefield, Bangalore and is involved mainly in the technical support business.

B2K also has a healthcare and analytics division which Allsec is not pursuing and this business will continue to be run in his personal capacity by Vivek Kulkarni, CEO of B2K and former IT secretary of the Karnataka government.

Ms Lathika Pai, Founder and COO of B2K will continue to run B2K operations for Allsec and will Head the Technical Support Division of Allsec and will be based in Bangalore. Allsec has 1,700 seats and 4 delivery centres.

Adi Saravanan founder and president of Allsec said: "This acquisition gives us a strong foothold into the technical support vertical and though we are doing technical support, the addition of B2K will help us aggressively pursue this business and the domain knowledge available in B2K will ensure consistent quality service to our customers".

Lathika Pai, founder and COO, B2K said, "Strategically, the deal with Allsec allows us to pursue large clients who have been waiting for us to have multiple sites, stronger financial backing, and a global sales and business development footprint. We are excited about the opportunities that we can pursue as a part of a larger organisation".

B2K will ramp up to about 500 plus employees before end of March 2006.

"Bangalore is one of the main BPO centres in India and we believe this will be a great addition for us in terms of capacity, talent addition and will also be an excellent option for us to offer disaster recovery and business continuity to our existing customers" said Saravanan.

He also said that the acquisition will be an all cash deal and though the structure has been agreed, the final consideration cannot be determined now and is contingent on the future revenues of the company in the coming months. The deal is expected to be completed before the end of fiscal year 2006.