IT services provider MphasiS said it will transfer a portion of its domestic business to Karvy Data Management Services Limited (KDMSL) for Rs 2.75 crore.
"Mphasis announced the signing of a definitive agreement to transfer a portion of its domestic business, subject to regulatory approvals, to KDMSL – a provider of business and knowledge process services in India," the company said in its statement.
This is Mphasis’ second definitive agreement further to the recent signing with Hinduja Global Solutions (HGS) to transfer over 7000 employees which was roughly two-third of the India Domestic Voice business.
With this current agreement, over 2000 employees would be transferred to KDMSL.
“Specialisation and consistent strategy execution holds the key to success. This definitive agreement offers tangible proof of our commitment to execute our strategic roadmap,” said Ganesh Ayyar, CEO of Mphasis.
“KDMSL is optimistic about the overall business growth in India and hence better business volumes. Our pedigree and footprint in the country would enhance and integrate service offerings to clientele in addition to the existing voluminous transaction processing capabilities. We are thrilled with this acquisition,” said V Mahesh, MD, KDMSL.
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Updated Date: Jul 10, 2015 15:12:56 IST