HCL Technologies, India’s fifth largest IT services firm, today signed an agreement to fully acquire US-based Control Point Solutions - provider of voice, data and wireless telecommunications expense management services (TEM) - for $20.8 million (about Rs 91 crore).

As part of the transaction, HCL will acquire four delivery centres in the US with over 200 professionals with domain knowledge and technical expertise.

“This acquisition enhances HCL’s ability to become an end-to-end provider of business process outsourcing services in the attractive TEM space. HCL will leverage its existing experience in TEM to further diversify into other geographies and newer areas like utilities, freight, to name a few,” said Ranjit Narasimhan, president and CEO (BPO services), HCL Technologies.

Anil Chanana, executive vice-president (finance), HCL Technologies, said, “The acquisition of Control Point is in continuation of HCL’s strategy to seek a non-linear growth opportunity. We are confident of delivering incremental shareholder value through our acquisitions.”

Source: Business Standard