3i Infotech acquires stake in BPO co

MUMBAI: Global information technology company 3i Infotech, on Tuesday, said it has acquired a 50.5 per cent stake in 'aok In-house BPO Services' and 'aok in-house Factoring Services' for an undisclosed sum.

"These companies have been acquired for their delivery capabilities in the area of credit cards and auto loans processing for the banking sector and claims and proposal processing for the insurance sector," 3i Infotech said in a communique to the Bombay Stock Exchange.

aok In-house BPO Services Ltd, which has facilities in the national capital and Mumbai, is one of the largest Indian providers of IT enabled services.

Clients of aok In-house BPO Services include American Express Bank, Max New York Life Insurance Co, ABN AMRO Bank, ICICI Bank Ltd and ICICI Prudential Life Insurance Co, data
available on the company's website shows.

The other company, aok In-house Factoring Services Pvt. Ltd, is a part of aok In-house BPO Services and carries out diverse factoring services to include debt collection, physical and tele verification, credit analysis and tele calling.

3i Infotech provides technology solutions spanning a range of verticals such as banking, insurance, manufacturing, contracting, retail and distribution and government.

Shares of 3i infotech rose 2.53 per cent and were last trading at Rs 311, up 1.55 per cent or Rs 4.75 on the Bombay Stock Exchange.