Monday, August 30, 2010

InterGlobe in talks to acquire Kale Consultants

Mumbai: Gurgaon-based InterGlobe, a $1.5-billion group that operates Indigo Airlines, is in talks for acquiring Mumbai-based Kale Consultants, an information technology services and solutions provider for the travel industry.
The deal is at the due diligence stage, said sources.
The acquisition, if successful, will be for the group’s business process outsourcing (BPO) and IT services unit, InterGlobe Technologies (IGT).
“Other than InterGlobe, an European firm was also interested. But the due diligence process has started for InterGlobe Group. InterGlobe is an aviation, travel and technology firm and this acquisition fits perfectly in their technology strategy. As for Kale, the company’s promoters have been looking for an exit,” said a source close to the development.
Promoters Vipul Jain and Narendra Harihar Kale hold 13.75 per cent and 17.23 per cent stake in the company, respectively. The total promoter holding, including other family members, is 38.6 per cent.
IGT provides services for the travel industry such as integrated application development and maintenance, call centre services, back office services, consulting services and solution frameworks to the travel industry worldwide.
30/08/10 Shivani Shinde & Sneha Kupekar/Business Standard
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