Mumbai, India-based TransWorks provides customer contact center services as well as BPO services including transaction processing, finance and accounting, and human resources. The company employs approximately 1,000 people across its two delivery centers in Mumbai and Bangalore, India, and claims it will expand this number by 400 before the end of the year. The company claims to have several prominent US and UK-based Fortune 100 clients, and generates about $1m in revenue per month.
Indian Rayon first entered the IT sector through its acquisition of PSI Data Systems in June 2001, which provides application development, maintenance and e-business solutions. In January 2002, PSI acquired the Aditya Birla Group’s main technology outsourcing business Birla Technologies Limited.
Sanjeev Aga, Aditya Birla Group’s director, said in a statement that the company aims to create a leading BPO business within five years.
Some 80% of TransWorks had been owned by venture capital group ChrysCapital, which had injected about $10m into the business since it was founded in 1999. The remaining 20% was sold to Indian Rayon by TransWorks’ founders Rizwan Kotia and Jagdish Moorjani, who will continue working at the company.
Source: Computerwire
