New Delhi: The Competition Commission has approved Hinduja Global Solutions' proposed acquisition of certain BPM and BPO assets of Mphasis and Msource.
Hinduja Global Solutions (HGS) has entered into a definitive agreement with Mphasis and subsidiary MsourcE India for buying a significant portion of their BPO business for about Rs 17 crore.
In a tweet today, the Competition Commission of India (CCI) said it has approved "acquisition of certain BPM/BPO assets of Mphasis Ltd and Msource (India) Private Ltd by Hinduja Global Solutions Ltd".
BPM stands for Business Process Management while BPO refers to Business Process Outsourcing.
CCI keeps a tab on unfair business practices across sectors and deals whose value is more than a certain threshold level are required to get its approval.
With the deal, HGS would add marquee clients in the telecom and banking and financial services (BFS) verticals as well as bring in over 7,000 customer experience professionals, the companies had said in June.
It would also add seven delivery centres to HGS across six cities - Noida, Raipur, Indore, Mangalore, Pune and Bangalore.
