Business process outsourcing firm, Tricom India has acquired the assets of US-based Apex Document Solutions for 2 million dollar, a deal that would enhance the domestic firm's presence in the litigation support vertical.
“The acquisition will augment the company's current sales setup in the US with the newly acquired on-site processing and support facility eliminating the distance and data confidentiality barriers,” Tricom India Managing Director Chetan Kothari said.
A Memorandum of Understanding was signed between Tricom and the US-based service provider of litigation support service, which include any professional assistance non-lawyers provide to lawyers in the litigation process.
The acquisition was funded through internal accruals and finance from banks or other financial institutions.
“This would provide a perfect platform to expand our service portfolio in other business domains paving way for earning higher revenues,” Kothari added.
Tricom India expects to enter into a definitive agreement in the next two weeks, the company said in a filing to BSE.
The acquisition enables Tricom to enhance the value chain in the Litigation Support Vertical by offering a full suite of both on-site and offshore engagement models and widen its market presence.
Tricom India is leveraging the network of Apex Document Solutions to reach out to the law firms in the US.
Source: Financial Express