Indian Economy News

Hinduja Global Solutions acquires Colibrium

  • Livemint" target="_blank">Livemint
  • March 31, 2015

Mumbai: Bangalore-based business process outsourcing firm Hinduja Global Solutions Ltd (HGS) said on Monday it has acquired a majority stake in Colibrium Partners LLC and Colibrium Direct LLC for an undisclosed sum.

The acquisition has been made by HGS Colibrium Inc, a US subsidiary of HGS, which would own 89.9% of Colibrium, a wellness automation technology firm.

Colibrium has developed a solution to implement health insurance portals that integrate with the customer relationship management solutions of companies and automates the workflow.

For the year ended 31 December 2014, Colibrium reported revenue of $12.6 million.

Shares of HGS gained 2.07% to Rs.555 on Monday on BSE at 2.09 pm, while the benchmark Sensex gained 1.49% to 27,867.36 points.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.