Tricom India to acquire assets of US-based GTESS Corporation

Tricom India to acquire assets of US-based GTESS Corporation

New Delhi: Business process outsourcing service provider Tricom India on Tuesday said it will acquire the assets of US-based healthcare service provider GTESS Corporation.

However, the company refused to divulge financial details on the deal.

The company has entered into a definitive agreement to acquire the assets of US-based healthcare service provider GTESS Corporation, Tricom India said in a filing to the Bombay Stock Exchange (BSE).

“After the acquisition, Tricom’s consolidated revenue for a full year of operation is estimated to be over 150 crore," Tricom India managing director Chetan Kothari said.

The company said it was hopeful of completing the remaining formalities for the acquisition in a few weeks.

The acquisition is being executed by Tricom’s US subsidiary, it added.

“This acquisition is in line with the company’s present growth strategy that will help Tricom move in the field of healthcare," Kothari added.

Tricom India is a non-voice information technology- enabled services (ITeS) provider focused on data management and data capturing services.

It recently secured a five-year contract from a US-based healthcare firm for $10 million and has set up a facility in Mumbai to execute the order.

Shares of Tricom India were trading at 19.40 in early trade on the Bombay Stock Exchange, up 0.52% from its previous close.

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