HCL to acquire US-based mortgage BPO provider for $30 mn


Noida, Apr 24 (IANS): Information Technology giant HCL on Monday announced that it will acquire mortgage business process & fulfilment services provider Urban Fulfillment Services (UFS) for nearly $30 million with 100 per cent stake.

With over 350 professionals, UFS operates out of three centres in the US.

"The acquisition of Urban Fulfillment Services strengthens HCL's capabilities in mortgage BPO services, loan fulfillment and debt servicing space," Anoop Tiwari, Corporate Vice President and Global Head-Business Services at HCL Technologies, said in a statement.

The total cash consideration for this transaction is up to $30 million, including contingent payments subject to certain financial milestones.

Mortgage servicing is a regulated activity in the US and the transaction would require regulatory approvals for obtaining the licenses, the company said.

"The synergies between UFS' client focused and efficient business processing services and HCL's technology leadership and financial strength will create an unparalleled competitor and leading provider of state-of-the-art services to the enterprise customers," added Charles S Sanders, CEO of Urban Lending Solutions.

 

  

Top Stories


Leave a Comment

Title: HCL to acquire US-based mortgage BPO provider for $30 mn



You have 2000 characters left.

Disclaimer:

Please write your correct name and email address. Kindly do not post any personal, abusive, defamatory, infringing, obscene, indecent, discriminatory or unlawful or similar comments. Daijiworld.com will not be responsible for any defamatory message posted under this article.

Please note that sending false messages to insult, defame, intimidate, mislead or deceive people or to intentionally cause public disorder is punishable under law. It is obligatory on Daijiworld to provide the IP address and other details of senders of such comments, to the authority concerned upon request.

Hence, sending offensive comments using daijiworld will be purely at your own risk, and in no way will Daijiworld.com be held responsible.