View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
April 13, 2004

Citigroup offers $126m for e-Serve

Global investment bank Citigroup Inc has offered $126m to take control of e-Serve International Ltd, a Mumbai, India-based business process outsourcing firm.

By CBR Staff Writer

The move follows hot on the heels of IBM Corp’s acquisition last week of another Indian BPO provider, Daksh e-services, and hints at the possibility of a trend developing of US investment in Indian offshoring companies.

e-Serve is the largest public pure-play BPO company in India and employs over 4,500 people. Citigroup is its largest customer, and e-Serve does processing work for the bank in 25 different countries. Citigroup already owns 44% of e-Serve but if is unclear whether or not its offer for the remaining shares will be successful.

The board will meet today (Wednesday) to discuss the offer, but some analysts believe shareholders may hold out for a higher price.

This article is based on material originally published by ComputerWire

Content from our partners
Rethinking cloud: challenging assumptions, learning lessons
DTX Manchester welcomes leading tech talent from across the region and beyond
The hidden complexities of deploying AI in your business

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how Progressive Media Investments may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.
THANK YOU