The IT Industry pegged at 7.4% of India’s GDP, is projected to be 10% in 2025. Besides, India accounts for 40% of global sourcing spending.
Share Market News: One Point One Solutions Limited, a leader in next-generation Business Process Management (BPM) services, has informed exchanges that it will acquire a majority stake in ITCube Solutions Pvt Ltd. which is an IT + BPM/KPO services company headquartered in Pune and Cincinnati, Ohio. This acquisition will enable One Point One Solutions to expand its current verticals, including healthcare and offerings in IT services.
IT Cube Solutions is a provider of Software Development, Business Process Outsourcing and IT-enabled Services with customers, partners & offices worldwide. The over two-decade-old professionally run, debt-free, profitable company with 600+ professionals servicing BPM & software operations offers cutting-edge operations & digital solutions in the Healthcare & Construction space. It has 30+ leading brands across the USA, England, Netherlands, Germany, Kuwait, Oman, UAE, Qatar, India, Singapore & Australia, with an impressive 10+ clients serviced in the last 15 years. The consolidated turnover (revenue from operations) of ITCube for the financial year ended March 31, 2023, was Rs. 53.57 crore with an EBITDA of Rs. 12.15 crore.
“This acquisition embodies a transformative milestone. It broadens our verticals and enriches our capabilities to cater to clients across diverse industries. The synergies between our companies ignite a spark of collaborative innovation, propelling us to unprecedented success,” Akshay Chhabra, Managing Director, One Point One Solutions said.
India is one of the preferred destinations for setting up Global Capability Centers (GCCs). The IT Industry pegged at 7.4% of India’s GDP, is projected to be 10% in 2025. Besides, India accounts for 40% of global sourcing spending.
Global Healthcare BPM market, estimated at $309.6 Bn in 2023, is projected to grow to $490.84 Bn by 2027, at a CAGR of 12.2% globally. Cost optimisation in healthcare companies is driving growth for outsourcing.
Disclaimer: The article is for informational purposes only and not investment advice.