infosys, india's second largest company IT in terms of revenues and US giant, IBM are locked in a tight battle to acquire captive BPO oarm of Fidelity, the world' largest MF company....The deal is valued at around 150-180 milion USD ...in return for assured business outsourcing contract.......other bidders involved were Captgemini, BCG, HP-EDS.....IBM offered 150 million USD to which infosys conter by saying 180 million USD.........
I' Gate also was in fray but later backed out due to stiff condtiosn laid by Fidelity......
some think that IBM has advantage over infy inspite of its less bid price because of IBM's old relations with Fidelity, Fidelity and IBM had come toghether to form Fidelity employers services company, around 15-20 years ago...... 2 such deals have already been stuck earlier..
1. Aviva solding out to WNS holdings for $228 Million fotr its captive backoffice operations for assured 1 bilion USd business spread over 8 yeras,
2.TCS acquired CITI 's BPO fo $505 million inretrum for assured busines of 2.5 bilioj USD over 9 yerars...
3. citi's captvi ujit by Wipreo( CITOS) citigroup technology servies, for assured business of $1 Billion over 6 yerars....wipro paid 127m ilion $....
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