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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 Technologies, 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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