Silverline Technologies to acquire BPO business in North America

Silverline Technologies Ltd has announced that the Company in line with its expansion plans, has chalked out a strategy to strengthen and add Finance and Banking BPO practice to its fold through the acquisition of a BPO business in North America.

The Company intends to add 1000 people Finance and Banking Call Center through the offshore recruitment / business acquisition. The proposed business acquisition is of the size of upto Canadian Dollars 30 Million, with major offshore benefits.

The Company in its maiden Turnaround financial year of 2006-07, for 9 months ending March 31, 2007 has achieved a topline of Rs 527.2 M with a bottom line of Rs 100.19 M.

The Company also cleared all of the bank liabilities and has become a debt free Company with effect from March 31, 2007.

Commenting on the above, Mr. Ravi Subramanian said that, in the first instance, we have concentrated on making the Company debt free and worked very hard to achieve a financial turnaround. Now that things are back to normalcy with the Company, our endeavor is to concentrate on business expansion. We are going to concentrate on both organic and inorganic growth.

Source : Equity Bulls

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