Wednesday, October 15, 2008

HTMT Global set for $150m UK buyout

HTMT Global, the concern procedure outsourcing and information engineering services provider, will get a mortgage-specific company in the United Kingdom soon.


The company is expected to put over $150 million for this raid into Europe.

HTMT have internal accumulations of $110 million which will be used for the acquisition, said Partha Delaware Sarkar, CEO, HTMT Global Solutions Ltd.

"We are looking at picking up bulk stake, if not the whole 100% of the mark company," Sarkar said.

"Europe is our precedence but that won't halt us from investment in promising houses elsewhere," he said, disclosing that negotiation are on with participants in the United States and Phillipines also.

The HTMT board is also meeting shortly to make up one's mind on offering interest to private equity houses from the US.

Analysts state HTMT have so far been a dawdler in footing of diversification.

"In the short term the company may be content with sticking to its core activities of back business office processing, contact centre serves and customised IT services, but in the long term it will surely have got to diversify and acquire into niche areas," said one, requesting anonymity.

HTMT Global have 75 clients of which 85% are based in the US, such as as the beleaguered online giant Yahoo!, while the remainder are in India.

The company programs to increase its local focusing also, and is nearing a large order from one of the top banking and fiscal services space entities. HTMT's two-year-old India concern have grown at 15% annually.


The company recently put up 1,500-seater installations in Madras and Mumbai, which, at full strength, will take its sum work force to 12,800.

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