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Mergers & Acquisitions | 5 November 2012

HCL, TCS Plan To Buy Indian IT Arm Of Belgian Group - KBC

by Charmi Gutka
HCL, TCS Plan To Buy Indian IT Arm Of Belgian Group - KBC
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Belgian banking firm, KBC Group, is in talks to sell its India based offshore IT arm, that is under @Valuesource, and TCS and HCL have been identified as potential buyers by ET.

The unit, located in Chennai, could be sold for around $25 Mn with a revenue commitment of 5-7 years from KBC.

It has 300 employees and operates in the field of application development and maintenance work along with BPO activities like credit processing.

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