Wednesday, April 07, 2004
International Business Machines Corp (NYSE:IBM Chart) said on Wednesday it would acquire Daksh, India's third-largest back-office services firm, in the biggest acquisition yet in the nation's booming $3.5 billion sector.
The deal, expected to be closed in May, will give the world's largest computer maker access to privately held Daksh's 6,000-strong employees, who mainly offer call center services to 13 clients including Internet retailer Amazon.com (NasdaqNM:AMZN Profile). The purchase of Daksh, based in Delhi satellite town Gurgaon, strengthens IBM's already significant muscle in India, where it employs 9,000 people in software, services and back-office work.
Industry sources estimated the buyout, the U.S. giant's first in India, at between $150 million to $200 million, making it one of the biggest foreign acquisitions in India in the past few years.
The deal, expected to be closed in May, will give the world's largest computer maker access to privately held Daksh's 6,000-strong employees, who mainly offer call center services to 13 clients including Internet retailer Amazon.com (NasdaqNM:AMZN Profile). The purchase of Daksh, based in Delhi satellite town Gurgaon, strengthens IBM's already significant muscle in India, where it employs 9,000 people in software, services and back-office work.
Industry sources estimated the buyout, the U.S. giant's first in India, at between $150 million to $200 million, making it one of the biggest foreign acquisitions in India in the past few years.
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