Rao: Looking ahead

Bangalore, Feb. 14: The MphasiS BFL group has bought the London-based Princeton Consulting for ?7.73 million ? its second acquisition this fiscal.

Princeton provides customer relationship management (CRM) solutions and process improvement services to bluechip firms in the UK and other European countries. The acquisition, to be completed in a week, will add about 100 employees, including 33 techies, to MphasiS.

?This acquisition will help us access business process improvement consulting skills as well as an established client base. Princeton will broaden our service offering in the IT and BPO segments in the UK and other European markets,? MphasiS chairman and CEO Jerry Rao said.

In the first quarter of this fiscal, MphasiS acquired the Bangalore-based Kshema Technologies Ltd in a cash-cum-stock deal of $21 million. ?As a mid-tier company in the IT and BPO space, we will continue to look for such strategic acquisitions to add value to our services,? Rao said.

Princeton CEO Afshin Rabbani said, ?We have an active client base of 12-15 customers, including British Telecom, the largest telecom firm in Europe, and a retail supermarket chain. Our niche consultancy skills will add value to MphasiS? strong delivery capabilities in the IT and BPO segment.? Rabbani will continue as vice-chairman of the European unit of MphasiS after the acquisition.

The group?s consolidated net profit for nine months (April-December) of the current fiscal increased by 28 per cent to Rs 93 crore over the corresponding period of last fiscal.

Consolidated revenue has shot up by 33 per cent to Rs 561 crore over the same period last fiscal.