Quatrro eyes US gaming company
Quatrro BPO Solutions is in negotiations to buy a game development company in the US and has set aside close to $225 million for acquisitions, reports Gaurav Choudhury.business Updated: Oct 02, 2007 22:27 IST
The Raman Roy-controlled Quatrro BPO Solutions is in negotiations to buy a game development company in the US and has set aside close to $225 million for acquisitions over the next 12 months.
Most of these acquisitions will occur in the areas like gaming, risk management and data analytics.
"The company has committed $300 million for acquisitions in uncontested market areas. More than 70 per cent of this is already available and the proposed acquisition of the gaming solutions company will be significant both in terms of value and strategic intent," sources said.
The US game development and solutions industry is valued at more than $6 billion.
Quatrro Chairman Raman Roy declined to comment. "We are looking at international acquisitions in the right areas," he said. Roy, who created a buzz a few years ago when he sold Spectramind for about $115 million to information technology major Wipro, said gaming solutions fitted the company's current model perfectly.
"We are looking at moving prevailing business process outsourcing (BPO) areas such as technical support and banking to the next level of efficiency and value. We will pioneer new areas such as legal, risk management, data analytics and gaming. The strategy is premised on a combination of incubation and acquisitions," Roy said.
Olympus Capital, an Asia-focused fund, has invested $100 million in Quatrro for a "significant minority stake". This is the biggest investment by the company in India.
The company recently acquired the onshore-offshore loan processing operations of Preferred Financial Group, Inc.
Using this as a base, Quatrro plans to provide end-to-end services to US mortgage lenders. Preferred Financial Group is a privately held financial services corporation that originates, underwrites and funds mortgage products.