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| Aditya Birla Minacs eyes BPO acquisition
Aditya Birla group's BPO division Aditya Birla Minacs Worldwide Ltd (ABMWL) plans to acquire captive arms of financial services firms engaged in niche segments such as asset management, credit risk analysis and others.
Dev Bhattacharya, managing director, ABMWL told DNA Money, "The company plans to invest around $150 million for the initiative."
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The captive acquisition is aimed at "turning around the India business faster and saving on cost of training and acquiring skilled manpower," said Bhattacharya. The company targets a turnover of $1 billion within two years and wants to achieve a major part through acquisitions.
India contributes 5% to the company's revenue, which Bhattacharya hopes to increase to 7.5%, with an annual growth of 50%.
Even as the company prepares to focus on the telecom boom in the country, Bhattacharya admits to low revenue generation due to the US slowdown. ABMWL revenue grew 17% in 2007-08 as against a targeted revenue growth of 25%.
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The company has kept a target of $430 million by 2009 from the existing $390 million with an overall growth target of 30%. ABMWL employs 13,500 people and in 2008-09 it will add another 2,000 in the US, Europe and Latin America facilities.
Currently, 75% of the company's BPO business is voice-based, with the rest being non-voice knowledge specific.
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In 2007-08, the automotive segment contributed 50% to its revenue, financial segment 25% and the rest came from technology and telecom sectors.
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