Mphasis transfers portion of India Domestic business to Karvy Data Management Services

Mphasis, the IT services provider, announced the signing of a definitive agreement to transfer a portion of its domestic business, subject to regulatory approvals, to Karvy Data Management Services Limited (KDMSL) – a provider of business and knowledge process services in India.

This is Mphasis’ second definitive agreement further to the recent signing with Hinduja Global Solutions (HGS) to transfer over 7000 employees which was roughly two-third of the India Domestic Voice business. With this current agreement, over 2000 employees would be transferred to KDMSL.

“Specialization and consistent strategy execution holds the key to success. This definitive agreement offers tangible proof of our commitment to execute our strategic roadmap.” said Ganesh Ayyar, CEO of Mphasis.

“KDMSL is optimistic about the overall business growth in India and hence better business volumes. Our pedigree and footprint in the country would enhance and integrate service offerings to clientele in addition to the existing voluminous transaction processing capabilities. We are thrilled with this acquisition.” said V Mahesh, Managing Director of KDMSL.