HCL Technologies to acquire UK-based Liberata Financial Services
HCL 
Technologies, Country’s leading global IT services provider, has informed that it has signed an agreement to fully acquire Liberata Finacial Services (LFS), a leading UK-based BPO provider and wholly owned subsidiary of Liberata Limited for undisclosed amount.
The U. K. firm, which regulated by The Financial Services Authority (FSA) provides back-office administrative and customer services for the life insurance and pension industry. The company has annual revenue of about $60 million and multi-year contracts worth $540 million.
As part of this transaction, HCL will acquire four delivery centers in UK with 800 professionals who come to HCL with domain knowledge and technical expertise. The acquisition will be funded through internal accruals.
This strategic acquisition of LFS enhances HCL’s ability to become an end-to-end provider of business process outsourcing services in the Financial Services space.
However, the acquisition is subject to fulfillment of certain closing conditions including obtaining regulatory approvals.
