MobilityTechzone

Latest News

TMCNet: India's Mphasis to Acquire AIG Systems Solutions

[August 14, 2009]

India's Mphasis to Acquire AIG Systems Solutions

(BestWire Services Via Acquire Media NewsEdge) India-based Mphasis said it has reached an agreement to acquire AIG Systems Solutions Pvt. Ltd., an information technology services and solutions provider to AIG companies worldwide in India, subject to legal and statutory requirements.

According to applications services, remote infrastructure services and business process outsourcing services provider Mphasis, the acquisition of AIG Systems Solutions will help the Indian company "augment its capabilities for the insurance industry and offer domain solutions." The transaction also further strengthens the financial services and insurance industry offerings of Mphasis with a "significantly enhanced insurance solutions portfolio." Currently, over 39% of Mphasis' revenues are from the financial services and insurance industry vertical, the company said.

Ganesh Ayyar, chief executive officer of Mphasis, said the company has a "strong presence" in the insurance "vertical," and that the acquisition further strengthens the company’s ability to add greater value to insurance clients.

"We look forward to welcoming 800 new employees as part of the Mphasis family," added Ayyar.

The company's president of applications services business unit, Gopinathan Padmanabhan, claimed that "progressive insurance companies are transforming themselves to capitalize on the changing market." He believes the AIG acquisition will give Mphasis a good opportunity to be the preferred information technology partner for those companies' transformation.

The Indian company said the insurance industry today faces "increased pressures, such as consolidation, regulatory changes and shrinking margins." Through the acquisition, Mphasis said the expanded team will provide innovative services focused on improving customer services, enhancing operational efficiencies, reducing time to market and increasing customer satisfaction for insurance clients.

Based in India's Chennai and Kolkata, AIG Systems Solutions has more than 800 employees and provides IT services, including application development and maintenance, application implementation, testing, product development and support, to AIG [18540] and its member companies.

The unit also engages in technology and applications domains, such as customer relations management, identity management, human resources management systems, content management, business process management, quality assurance, testing and portal development.

Mphasis has more than 33,000 staff providing services to clients coming from financial services and insurance, health care, communications, transportation, consumer and retail industries, as well as to governments around the world.

(By Rebecca Ng, Hong Kong news editor: Rebecca.Ng@ambest.com) (c) 2009 A.M. Best Company, Inc.

[ Back To MobilityTechzone Homepage's Homepage ]
FOLLOW MobilityTechzone

Subscribe to MobilityTechzone eNews

MobilityTechzone eNews delivers the latest news impacting technology in the Wireless industry each week. Sign up to receive FREE breaking news today!
FREE eNewsletter
Interview with VPI Systems
TMC's Rich Tehrani speaks with Russ Green, Senior Vice President of Marketing and Product Management for VPI Systems
Interview with Thrupoint
TMC's Paula Bernier speaks with David Jodoin, Chief Strategy Officer for Thrupoint
Interview with Nuance
TMC's Erik Linask speaks with Christy Clark Murfitt, Sr Manager of Solutions Mktg, Enterprise Division for Nuance
Interview with Abukai
TMC's Erik Linask speaks with Philipp Schloter, President & CEO of Abukai
Interview with DragonWave
TMC’s Stefanie Mosca speaks with Greg Friesen, VP, Product Management of DragonWave