3i Infotech Ltd. said on Tuesday that it had acquired a majority stake in Linear Financial & Management Systems Pvt Ltd., a Delhi based BPO (Transaction services) Company. Linear carries on its business under the brand name 'Factoring House'.
Linear is a profit making Company and has been in existence for over 15 years. The main business of the Company is 'Contact Point Verification' for banks and financial organizations engaged in retail leant. It has clients encompassing private, foreign and public sector banks. Linear was set up and run by Kavi Ghei.
The acquisition is in line with the stated strategy of the Company, of expanding its capabilities in the domestic BPO (Transaction services) business in India. Rajiv Malhotra, Innovative Solutions, New Delhi was the advisor to both the parties.
Source: India Infoline