iGate buys 5% pie in US co

iGate Global Solutions Ltd on Monday said it has acquired 5 per cent equity stake in US-based Loan Pro LLC enhancing its existing stake to 60 per cent by July 1.

The acquisition is in line with iGate's vision to become an integrated technology and operations player and to enhance its presence in the mortgage space, the company informed the Bombay Stock Exchange.

"The Loan Pro deal is strategic to us as it will strengthen our offerings in the mortgage services space," company's chief financial officer N Ramachandran said.

LP is engaged in mortgage origination related services and focuses on the mid-market mortgage segment.

iGATE Global Solutions services include consulting, IT services, data analytics, enterprise systems, contact centre and infrastructure management services.

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