Wipro Spectramind, the wholly owned business process outsourcing subsidiary of tech heavyweight Wipro Ltd, is in acquisition mode. The second largest BPO player in the country has drawn up plans to target niche BPO operations.
"We have zeroed in on a couple of companies. These are multinational BPOs with back office operations in India. We are currently going through the process of evaluation. If these deals work out, we will acquire them shortly," an executive at Wipro Spectramind told Business Standard.
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The operations under evaluation are "niche BPOs" specialising in insurance and credit card related activities that would cater to both the high-end and low-end needs of the company, he said, but declined to name the companies.
Wipro Spectramind is scheduled to announce its financial results for the second quarter of 2004-05 on October 15. "This time too we have registered an impressive rate of growth, which is pretty much higher than the rate at which the industry is growing," he said.
The executive also claimed that the high attrition rate in Wipro Spectramind had declined. These acquisitions, if finalised, will add to the momentum of the merger and acquisition activity in the BPO sector.
