Mphasis BFL buys UK’s Princeton in Rs 64 cr deal

Company Chairman and CEO Jerry Rao said Mphasis BFL has acquired Princeton Consulting for £7.73 million (approximately Rs 64 crore) including cash of £3.23 million in all cash deal. ‘‘The net value of the deal adjusted for the surplus cash remaining in Princeton Consulting is £4.5 million (around Rs 36 crore),’’ he said.

Princeton Consulting, with an annual revenue of £6 million is a niche consultancy services company that provides integration of CRM solution and provides back office support for its clients. ‘‘This acquisition makes us strong in offering CRM solutions for our clients,’’ said Rao.

He said this acquisition would help Mphasis have a strong presence in European markets. ‘‘Princeton’s areas of expertise include multi-channel customer service and support, sales force management, content management and business intelligence,’’ he said.

The employees of Princeton, around 100 of them, will be integrated into the group. ‘‘Afshin Rabbani, CEO, Princeton will join us as a vice-chairman of our marketing force for the European operations,’’ said Rao.

This is second acquisition for Mphasis BFL in the current fiscal. Earlier the company had acquired Kshema Technologies for $21 million in April 2004. ‘‘We are looking for IT/BPO companies for acquisition in future,’’ said Rao.

Mphasis BFL gets around 13-15 per cent of its revenue from the European region. With this acquisition, the company is expected to increase its business from this region. The acquisition process is expected to be completed in two weeks.