BANGALORE, INDIA: Spice Televentures Ltd., a provider in telecommunication services and Spanco Telesystems and Solutions Ltd. a provider of telecom systems integration and IT services, today signed an MoU to create India’s largest onshore domestic BPO company.

The joint venture would witness the merger of three leading domestic BPOs in the onshore space comprising Omnia BPO Services Ltd. (a Spice Televentures subsidiary) and Bharat BPO and Spanco BPO Services, said a press release.

The new entity would provide voice-based back office and contact centre services to clients encompassing customers across diverse segments including banking, financial services and insurance (BFSI), Telecom, Travel and eGovernance sectors in India. It plans to target the revenue of Rs. 500 crore by the end of March 2010.
The joint venture currently employs around 10,000 people and is expected to grow to around 15,000 employees by Financial Year ending March 2009, the release added.

Dilip Modi, chairman, Omnia BPO Services Ltd., and the chairman of the new JV, said, “With a vision to take a leadership position in the on-shore BPO industry, Spice Televentures has decided to partner with Spanco, a company with a successful and proven track record in this space.”

According to Kapil Puri, chairman, Spanco and vice chairman of the JV, “The joint venture integrates the key domestic BPO operations run by Spice Group and Spanco and the IT capability of Spanco, helping us leverage on each other’s strengths in their respective verticals”.
 
Added Pravin Kumar, chief executive officer, Omnia BPO Services, “The JV is all set to be the largest pure play onshore domestic BPO in India with expected revenues of Rs.. 150 crores for the Financial Year (FY) 2009, growing to Rs. 500 crore in FY 2010.”