HCL Technologies (HCL), a leading global IT services company, has entered into an agreement to acquire Urban Fulfillment Services, LLC, (UFS), a provider of mortgage business process & fulfillment services. The acquisition of UFS strengthens HCL’s capabilities in mortgage BPO services, loan fulfillment and debt servicing space.
The company will be acquiring 100% stake in UFS. The total cash consideration for this transaction is up to $30 million, including contingent payments subject to certain financial milestones. Mortgage servicing is a regulated activity in USA and the transaction would require regulatory approvals for obtaining the licenses.
UFS is a Limited Liability Company incorporated in USA, founded in 2002. With over 350 highly skilled professionals, UFS operates out of 3 centres in the US, engaged in providing mortgage business process and fulfillment services to its customers.
| Company Name | CMP |
|---|---|
| TCS | 2402.20 |
| Infosys | 1154.45 |
| HCL Tech. | 1202.80 |
| Wipro | 199.55 |
| Tech Mahindra | 1363.00 |
| View more.. | |
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