Fujitsu in talks to buy out Intelenet Global Services, eyes acquisitions in the IT space

Fujitsu, Japan’s largest IT services company is in advanced stages of talks to buy out Intelenet Global Services, a Mumbai-based BPO. Intelenet is a joint venture between Barclays Bank of UK and HDFC. HDFC and Barclays each hold 50% in the venture. Fujitsu is reported to be in talks to buy out Barclays’ stake and subsequently may also acquire HDFC’s stake.

Currently, Fujitsu has a presence in India through two companies, Rapidigm, a 100% subsidiary, and Zensar Technologies, a joint venture company with the RPG group. Fujitsu acquired Rapidigm, a US-based BPO firm with operations in India, in February 2006.

Fujitsu does not have management control in Zensar and is thus also looking at acquisitions in IT services. Fujitsu is under pressure to build its presence in the fast growing Indian market.

For more, read The Economic Times article.