New Delhi, July 16 (IANS) India’s leading Software services firm HCL Technologies announced Wednesday that it has agreed to acquire Liberata Financial Services (LFS), a UK-based business process outsourcing (BPO) firm, for an undisclosed amount.
The acquisition of LFS, a wholly-owned subsidiary of Liberata Ltd, which provides end-to-end administrative and customer services for the life and pensions Industry, is expected to help HCL penetrate the British life and pensions industry.
The acquisition includes four delivery centres in Britain at Romford, Preston, Croydon and Welwyn garden city, along with 800 professionals.
“This acquisition will equip HCL with a ready capability across the value chain by providing access to an existing revenue base actuarial, analytics and policy management, catapulting HCL to become a leading service provider in the UK market for the life and pensions industry,” said Ranjit Narasimhan, president and chief economic officer of HCL BPO.
Liberata head Robert Gogel said the company had made significant investments in people, platform and service line development. “This sale will enable Liberata to focus on its core BPO business in the public sector,” he said.