Date:30/05/2007 URL: http://www.thehindubusinessline.com/2007/05/30/stories/2007053004260400.htm

Back 3i Infotech buys stake in BPO, factoring services firms

Our Bureau

Mumbai May 29 The Mumbai-based 3i Infotech said on Tuesday that it has acquired a 50.5 per cent stake in `aok in-house BPO Services' and `aok in-house Factoring Services'. However, financial details of the same were not made known.

The partial acquisition is in line with the company's policy to grow its BPO business in the domestic market, said Mr Amar Chintopanth, Chief Financial Officer, 3i Infotech.

aok In-house BPO services clients like American Express Bank, Max New York Life Insurance Co, ABN AMRO Bank, ICICI Bank Ltd and ICICI Prudential Life Insurance Co. aok In-house Factoring Services Pvt Ltd, is a part of aok In-house BPO Services and carries out factoring services which include debt collection, physical and tele-verification, credit analysis and tele-calling. Both the companies have a combined turnover of Rs 20 crore, added Mr Chintopanth.

The 3i Infotech scrip was up by 1.36 per cent to close at 310.4 on the BSE on Thursday.