At a time when the Indian IT services and business process management (BPM) is undergoing major transformation due to shift towards automation and cloud adoption, US-based BPO firm Concentrix is eyeing to acquire BPO firms in India. Chris Caldwell, president, Concentrix told that the company will continue to look at acquiring targets in India and other regions as part of its growth strategy. “M&A is part of our growth strategy and we will look at targets in India and other geographies. India is an attractive market for us because of theaccess of talent and a lot of innovation is happening here,” he added.
Concentrix, the BPO business of US-based SYNNEX, recently completed the acquisition of BPO firm Minacs. Concentrix brought the company for a total consideration of $420 million from PE players CX Partners and Capital Square Partners. The PE players had acquired Minacs from the Aditya Birla Group for $260 million in 2014. Minacs is the third acquisition that Conentrix has done in India. Before this, they acquired the BPO business from IBM in 2013. Caldwell is also clear the company will not acquire firms in India to add head count but to fill in gaps that the firms lacks.