Information governance and data migration solutions provider, BackOffice Associates is looking at acquiring an Indian company with competencies in enterprise performance management or data space for $5-10 Mn.
Founded in 1996, BackOffice Associates is backed by Goldman Sachs with a $30 million investment in 2008. The over $140 Mn Massachusetts based company through its additional offices in the US, Australia, Canada, Dubai, India, Singapore and the UK serves companies which include Eli Lilly, Kraft and Graybar.
In India the company serves through its two offices in Hyderabad, providing regional and worldwide services. It recently opened its sales, marketing and delivery office in Bangalore.
The company seeks to use its Bangalore center to provider ange of enterprise around Enterprise Data Management services such as BackOffice Data Stewardship Platform (DSP), SAP Data Services (SAP DS), SAP Information Steward (SAP IS) and SAP Master Data Governance (SAP MDG) areas to support its regional and global customers.
The company currently employs 700 globally of which close to 120 professionals work out of its Hyderabad and Bangalore centres.
It had acquired SAP data services consultancy Entota Limited in July 2012, and Canada-based Headwall Software Inc in December 2013 for undisclosed amounts.
The AV Birla Group is in talks with a South African health insurance company where it is likely to hold 74% stake in the proposed joint venture. The company has hired Boston Consulting Group to find a partner to foray in health insurance segment.
The Foreign Investment Promotion Board (FIPB) green-signals broking firm Sharekhan Ltd.’s proposal to sell 100 per cent stake to BNP Paribas after many deferrals. This move will allow the former to entice foreign investment of worth Rs 2,060 crore. Currently, this procedure falls under FDI policy that means, a foreign investor can have up to 100 percent stake in a stockbroking firm only under the automatic route.