The Hindu : Business : i-flex to acquire Equinox

Online edition of India's National Newspaper
Wednesday, Nov 17, 2004

Business

Business

i-flex to acquire Equinox

By Our Staff Correspondent

CHENNAI, NOV. 16. The board of i-flex solutions has approved the acquisition of Equinox Corporation. It has also cleared a proposal to acquire a 33 per cent stake in France-based treasury software specialist firm Login SA.

Rajesh Hukku, Chairman and Managing Director of the company, stated in a release that the initiatives were part of i-flex's inorganic growth and aimed at strengthening its solutions portfolio for the global financial services industry. The company was planning to offer value added solutions that helped its customers excel in their businesses, he added.

Equinox provides customer acquisition and business process outsourcing (BPO) services to mortgage institutions, auto financers and credit card companies. It offers several incubation model-based customer acquisition programmes and a host of process outsourcing services.

The product, it is stated, has a wide acceptance in European countries and in the U.S., Middle East and South East Asia. Acumen complements and strengthens i-flex's offering to the treasury market by being able to provide an end-to-end solution.

With this new partnership, i-flex and Login will seek to address developed markets effectively and offer solutions in specialised areas such as derivatives.

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