Mphasis moves 2,000 employees to Karvy along with its BPO business

MUMBAI: Mphasis said it sold a portion of its India business to Karvy Data Management Services, which will result in the transfer of 2,000 employees, as the IT services major continues the process of paring back its exposure to the Indian business process outsourcing sector.

Mphasis had already transferred two-thirds of its domestic business to Hinduja Global Solutions for Rs 17 crore, that transaction resulted in the re-badging of 7,000 employees.

“Specialization and consistent strategy execution holds the key to success. This definitive agreement offers tangible proof of our commitment to execute our strategic road map.” said Ganesh Ayyar, CEO of Mphasis, said in a statement.

The company did not disclose a transaction value for the Karvy deal.

After the sale to Hinduja, Ayyar had told ET that the company was working on options for the rest of the business.

“KDMSL is optimistic about the overall business growth in India and hence better business volumes. Our pedigree and footprint in the country would enhance and integrate service offerings to clientele in addition to the existing voluminous transaction processing capabilities,” said V Mahesh, Managing Director of Karvy Data.