Tech Mahindra to buy into Quatrro
By Sumir Singh
Gurgaon head quartered Quatrro was founded in 2006 and is a global services company offering business and knowledge processing services to organizations seeking higher operational effectiveness, greater flexibility and lower operating costs. It has more than 220+ enterprise clients, over 9000 small and medium enterprises and over 300,000 individual customers around the world.
Quatrro was founded by Raman Roy who is widely regarded as one of the best managers in the country and a man who has turned to gold every IT-BPO company he has worked with.
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In Sept, 2011, Financial Express published heated speculation in the market that UK based Serco would be buying a huge stake in Quatrro. Raman Roy had confirmed that such talks had taken place.
In Dec, 2010, on revenue of Rs. 213 crores, Quatrro reported a loss of Rs. 13 crores. The latest revenue figures are not public yet.
Techgoss readers may be interested in knowing that Tech Mahindra is poised to buy a huge stake in Quatrro. Raman Roy, who has a successful track record in exiting companies, had been negotiating with a number of keen buyers in the last six months.
Handful of senior managers in both the companies are privy to the Tech Mahindra -Quatrro deal specifics.
In the past, Quatrro had raised $100 million from Olympus Capital. And more recently it had raised another $13 million.
Tech Mahindra is part of the $14 Billion Mahindra Group. Tech Mahindra, which has 44,000 employees, had expanded its IT portfolio by taking over Satyam.
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