Mold Tek to hive off KPO arm
Mold Tek Technologies is planning to expand its KPO business by hiving it off into a separate division. The company is also in the final stages of acquiring a KPO company in the US.
By Srividhya Ramkumar, TNN |
HYDERABAD: Mold Tek Technologies is planning to expand its KPO business by hiving it off into a separate division. The company is also in the final stages of acquiring a KPO company in the US.
The board of Mold Tek will meet on January 10 to consider the acquisition of Tech-Men Tools Ltd that is involved in making plastic packaging products, according to the company's notification with the BSE on Wednesday.
The KPO division of the company employs 180 people generating revenue of $3 million, according to a senior company official. The de-merger is being done as the division is growing in size and also to ensure better valuations to raise funds for expansion.
Mold Tek will continue to be the holding company of the KPO division and the company will also look at divesting a small stake in the KPO business to raise funds.
The acquisition of a KPO company in the US will offer presence in new markets apart from access to better technology, the official added. However, he declined to disclose the mode of funding the acquisition of the KPO business and Tech-Men Tools.
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