One of the global leaders in IT/ITeS today, HCL Technologies (HCL), is soon inking an acquisition deal with Urban Fulfillment Services, LLC, (UFS), a BPO registered in the USA and which handles mortgage business process and fulfilment services for diverse clients.
According to a company news release from HCL, the IT major would be acquiring 100% stake in UFS at a cash consideration of US$30 million. This would include the contingent payments which have been identified by HCL and UFS, as subject to certain financial conditions.
Mortgage servicing is a business activity that comes under statutory regulations in the USA, and hence the transactions must receive regulatory approvals prior to obtaining licenses.
Combined Strengths
The acquisition would bring out a two-pronged advantage to the business – the high-end professional skills and talent of UFS in mortgage BPO services, loan fulfilment and debt servicing combined with HCL’s deep industry expertise and business acumen in the information technology and IT-enabled services segment, will emerge as an infallible service delivery plus, it is observed.
Founded in 2002, UFS has in its manpower fold, 350 highly skilled professionals operating out of 3 centres within USA. This prime quality HR base addresses the entire mortgage business process and fulfilment services for a wide range of clients covering diverse sectors, and thus has acquired a vast knowledge-base and experience in this specialized service category.
Speaking on the acquisition move, HCL’s Corporate Vice President / Global Head – Business Services, says, “Combining UFS’ talent and client portfolio with HCL’s deep industry expertise and business acumen, offers us the unique opportunity to provide platform–based services on our own platform, driving transformation through robotics process automation.”
Industry Standard
According to another industry expert in mortgage processing and loan fulfilment services, ‘ UFS’ client focused and efficient business processing services and HCL’s technology leadership and financial strength will create an unparalleled competitor and leading provider of state-of-the-art services to the enterprise customers’.
Undoubtedly, the corporate acquisition move will bring about a high standard of digitized operational efficiency and client servicing abilities to the industry, to the benefit of thousands of customers who seek such specialized services.
