Tata Consultancy Services (TCS) has acquired Chile-based Comicrom for $23 million. In addition, TCS has purchased the BPO firm's 49 percent investment in its IT services joint venture in Chile. With revenues of $35.5 million in 2004 to 2005, Comicrom is the leading BPO company for the banking and pensions industry in Chile. The company's clients include banks, insurance companies, pension funds, government bodies and corporations.

S. Ramadorai, TCS CEO and Managing Director said, "This acquisition is a further step in realizing TCS' strategy of acquiring leadership in platform-based BPO for the banking and domain. It also expands TCS' capability in terms of becoming a full services player."

Image Source: www.comicrom.cl