Wipro is looking for buyouts of up to $50 mn in healthcare, travel, and finance and accounting space. Within the BPO space, after Spectramind, the company now wants to look at acquisitions in the range of $20-50 mn, particularly for transaction processing work. The company wants capabilities in two verticals, namely, healthcare and travel, and amongst the horizontals the targets are finance and accounting (F&A) as well as procurement.
Wipro had acquired Spectramind eServices in 2002 for over Rs. 400 crores. At that time, Spectramind’s annual business was $11 mn with 2500 employees. In case of healthcare and travel, Wipro is looking at the US market for an acquisition. For other segments, the acquisitions could also be in the Indian market.
At present, telecom and finance related transaction processing work accounts for 60% of Wipro BPO’s overall transaction processing revenues. The BPO unit operates in verticals, including banking and financial services, insurance, health and life sciences, telecom, and travel and transportation. Its horizontal offerings span finance and accounting, procurement, loyalty services and HR services. For the third quarter of the current fiscal, Wipro BPO unit reported revenues of Rs. 235.8 crores.
Read The Economic Times article.
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