Bangalore-based iGate Global Solutions (formerly Mascot Systems), which had
acquired 51 percent stake in Quintant Services for Rs 86.9 crore few months
back, will acquire the remaining 49 percent in Quin-tant within few weeks.
With this Quintant will be merged with iGate, informed iGate CFO N
Ramachandran. During the first phase of acqui-sition, it was decided that iGate
would acquire the remaining 49 percent within few months. With the acquisition,
iGate has got access to Quintant's dom-ain expertise in the field of ban-king,
insurance and financial service, and also its mana-gement team.
Meanwhile, iGate is in an expansion mode in Chennai.
The center spread over 65,000 square feet currently accommodates 350 people.
The company is planning to add another 35,000 square feet in the next three
months and hire over 500 IT professionals, with an investment of Rs eight crore.
Additionally, the second phase of the Bangalore facility is also coming up for
which it will invest Rs 45 crore.
For the long-term plan, iGate will be setting up a campus facility in Chennai.
For this it has bought four acres of land in Sholinganallur.