Spanco-Spice JV to merge BPO business

Spanco-Spice JV to merge BPO business


Mumbai: Information technology and hardware firm Spanco Telesystems and Solutions today said it has entered into an agreement with Spice Group to merge their domestic BPO businesses.

Bharat BPO, a 50:50 joint venture between the company and Omnia BPO Services (a Spice Telecom group company), would merge domestic business process outsourcing businesses with itself, Spanco said in a regulatory filing to the Bombay Stock Exchange.

“Each of these BPOs specialises in specific market and vertical segments and their coalition will lead to a synergistic value proposition for clients, enabling them to address diverse target segments through one organisation," the company said.

The joint venture has currently around 7,000 seats and under its robust growth plans it would increase to around 15,000 in future, it added.

Shares of the company were trading at Rs52.30, down 5.60% in the afternoon trading on the BSE.