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April 1, 2004

Office Tiger plans F&A outsourcing buy

Offshore back-office processing company Office Tiger is planning its first acquisition to expand into the fast growing area of finance and accounts outsourcing services.

By CBR Staff Writer

Joe Sigelman, co-CEO of New York-based Office Tiger told ComputerWire: We are looking at making an acquisition of a $20m to $30m company in finance and accounts outsourcing in the US or UK market, but a decision has not yet been finalized. Sigelman said he has just arranged to raise equity from an investment firm to help fund the proposed acquisition.

Office Tiger, which was set up in 1999 by co-founders Sigelman and Randy Altschuler, employs some 1,600 people of whom the majority are based out of two centers in Chennai, India.

Office Tiger is a relatively new entrant into the BPO market, and rather than offering typical BPO services such as call center, and human resources outsourcing, it provides outsourced research and data analysis, pre-publishing services such as layout and design, and F&A work in accounts receivable and fund accounting. Sigelman said the company provides these services to major US accounting, law firms, investment banks and publishing houses, and has recently launched a new division offering advertising agency services.

Rival captive offshore BPO provider GE Capital International Solutions is currently in the shop window in India, allegedly selling its IT helpdesk and technical support units. However, Sigelman ruled this out as a potential takeover target. The guy I met about the equity investment was interested in it, however the parts of GECIS up for sale wouldn’t fit our business model, he said.

This article is based on material originally published by ComputerWire

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