HOV Services, the Pune-based BPO service provider to finance and accounts (F&A) sector, has acquired US-based Lason for $148 million (Rs 651 crore).
MUMBAI: HOV Services, the Pune-based BPO service provider to finance and accounts (F&A) sector, has acquired US-based Lason for $148 million (Rs 651 crore).
The two companies will have combined annual revenues in excess of $200 million. With the acquisition, HOV Services and its global workforce of more than 11,000 employees will serve more than 4,000 customers in North America. The current Lason leadership and management team will remain in place. HOV Services has acquired seven companies over the past four years in the F&A BPO space, of which five are wholly-owned subsidiaries.
Within the F&A BPO space, HOV Services focuses on the Accounts Receivable Management (ARM) and Insurance & Tax Services (ITS) categories, which are expected to grow on account of increasing debt levels and surging surety claims in the US.
Sunil Rajadhyaksha, executive director, HOV Services said, “We want presence in more verticals.
Acquiring companies is a faster way to reach that goal.”
The Lason acquisition will enhance marketing, servicing and delivery footprints to clients worldwide through integration, realignment and cross-selling. Moreover, the acquisition leads to global infrastructure to address the needs of new markets and the synergies within our expanded marketplace, he added. According to Nasscom, the global market for finance & accounting (F&A) BPO providers was $30bn of which, India’s share was $400 million.
After the acquisition, the company’s clients will benefit from having delivery capability from over 49 locations in the US, Canada, India, China, and Mexico delivering end-to-end integrated solutions.
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