SPI Tech buys Indian co, to hire 1000

Manila-based content outsourcing company SPI Technologies Inc has acquired KG Information Services and Technologies's medical transcription business for an undisclosed amount and plans to double its headcount to 2,000 by March 2006.

"Acquisition of Coimbatore-based KGMT will give us state-of-the-art facilities in India with a capacity of over 800 employees to complement our medical transcription operations in the US and Philippines," Peter Maquera, vice president (corporate development), SPI Technologies said on Monday.

Maquera said along with 350 employees of KGMT, SPI is planning to increase its headcount to 2,000 from the current 1,000 spread across the cities of Chennai, Kolkata, New Delhi and Pondicherry by the end of March 2006.

"SPI has earmarked $50 million for acquisitions in India and we are targeting healthcare and financial verticals. We have identified a couple of companies to acquire and the deal is expected to be finalised soon," he said.

Earlier, SPI Technologies had acquired Pondicherry-based Kolam Information Services in 2003 and it is planning to expand further in India as a key component of its aggressive growth strategy, Maquera said.

"Our customers include Elsevier H W Wilson, Harvard University Press and University of Chicago Press along with major law firms and healthcare providers," he added.