Mergers and Acquistions News
Categories: BPO
November 11th 2008, 15:31PM
Indian-based Quatrro Business Process Outsourcing (BPO) Solutions is looking to raise up to $150 million (£97 million) to fund merger and acquisition activities, it has been revealed.
Speaking to the Economic Times, Raman Roy, managing director of the firm stated that the time was right to look at taking over other firms.
The firm is considering a purchase in the range of $200-300 million, he stated.
However, as the environment is not right for taking on debt, the cash will be raised through other manners.
"We don't think debt is a viable option at this point. So, our acquisitions will be funded through equity stake sales," he said.
According to the news provider, the price of companies has fallen in recent times due to the economic downturn, meaning well-placed firms are considering acquisitions.
Last month, Citigroup sold its Indian BPO division, Citigroup Global Services, to Tata Consultancy services for $505 million in a bid to reduce costs.
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