New York-based REcap Partners-LLC is all set to buy out Chennai-based business process outsourcing firm HOV Services along with its two units operational in Beijing and Hong Kong for around Rs 950 crore
The effects of the sub-prime crisis and the resultant slowdown of the US market is evident on the margins of Indian information technology (IT) and IT-enabled Services (ITeS) firms. Business process outsourcing (BPO) firms such as Firstsource, Pune-based HOV Services, Zenta, Aegis BPO and others have been receiving inquiries from existing as well as new customers for ramping up their account receivables management (ARM) business.
HOV Services pays Rs 660 crore for US firm.
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Markets ended tad lower with financials declining the most ahead of RBI policy review tomorrow.
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