Mphasis Ltd.

MphasiS has acquired the US-based insurance solution provider Wyde Corp. With the acquisition of the $30-million company, MphasiS will shore up its insurance business with an opportunity to marry its applications and BPO business with Wyde’s software platform Wynsure. According to MphasiS, this will tie in with its focus on emerging geographies where it will be expanding after this acquisition. Wyde works with EBITDA margins of 18% and MphasiS said the deal would be EBITDA accretive. The all-cash deal would be completed in a month and Wyde will add to revenues for two months before MphasiS’ financial year comes to an end in October. Wyde has over 200 employees who will be joining MphasiS. This is the second acquisition in the insurance vertical for the billion-dollar firm, which had acquired AIG captive unit in India in 2009. crackcrack