Monday, October 6

India BPO & Outsourcing Watch

VCs, private equity firms fund over $180 m in Q2 | ET
Over $180 million flowed into 16 Indian companies in the second quarter (Q2) of current fiscal ending September by way of funding from venture capital (VC) and private equity firms.

Also the number of deals in Q2 increased compared to the previous quarter ending June.As in the past, BPO (business process outsourcing) continued to be the darling of VCs. However, in a significant departure from the past, VC have started looking beyond the IT and BPO sectors....

Techumseh to crank up outsourcing | Business Standard
Techumseh Products Company (TPC), the $2 billion US compressors maker, is increasing the amount of work outsourced from its Indian subsidiary, Tecumseh Products India Pvt Ltd (TPIL).

Technovate top BPO co with $160m valuation | ET
European online travel company ebookers has divested a 6.25% stake in its fully owned Indian BPO subsidiary, Technovate, for $10m to Kipotechniki, a Belgian subsidiary of Mikal.

With this transaction, Technovate is one of the highest valued BPO companies in India, with a valuation of $160m.....

Nasscom Points To Big Deals As US Govt IT Budgets Grow | FE
Infotech spending by the US federal government for 2004 is estimated to be $59.37 billion, according to a new National Association of Software and Service Companies (Nasscom) report. Spending by US state governments has been hovering around the $40 billion mark, the report targeted at software companies aiming to tap this lucrative market said.