Wednesday, October 28, 2009

Integreon to Raise $100 Million to Fund Acquisitions

Mumbai, Oct 25 (PTI) Knowledge process outsourcing (KPO) firm Integreon is looking to raise about USD 80-100 million through private equity to fund acquisitions in India and overseas. "We are looking to seek commitment to the level of USD 80-100 million (solely through private equity) and whenever there is an opportunity, we will use that capital for an acquisition," Integreon Chief Operating Officer, Asia Pacific, Lokendra Tomar, told PTI here.

He said the company intends to complete fund-raising in the next one or two quarters. Integreon provides outsourced knowledge, legal, and administrative support services mainly to banking, legal, consulting, IT and pharma firms in the US and Europe.

The US-based firm employs about 1,200 people at three delivery centers in India and plans to further up head-count through an acquisition. The KPO recently added a 1,000-seat facility in Mumbai.

"There is a strong likelihood that our next acquisition most likely will be in India and that will add a number of head-count to India (operations). We are looking to use the capital in 6-12 months, but if we get a good opportunity, we can accelerate the process," Tomar said.

Integreon is scouting for financial research firms in India as it wants to balance its offerings between legal and research services.