Inspinity [ News ]

ATLANTA, GA - September 17, 2007 – Atlanta-headquartered Software Paradigms International (SPI), a global IT outsourcing and BPO solution provider and parent company of Inspinity, has acquired multiple business units of India-based COMAT Technologies.

The acquisition is expected to further accelerate the Georgia-based corporation's reputation as one of the fastest-growing providers of outsourced IT and BPO consulting services in the world, realizing close to 100% year-over-year growth for five consecutive years. With the acquisition, SPI will take over all of COMAT's global medical transcription and legal coding clients, many of them based in North America and the United Kingdom, thereby integrating all of their projects into SPI's 200,000-square-foot technology campus in Mysore, India. The acquisition will boost SPI's work force to over 1,000 consultants in Mysore.

"This transaction allows SPI to further expand our service lines and provides diversification opportunities for the organization in the US and into Europe," said Sid Mookerji, Chief Executive Officer of SPI. "The talent and experience of the COMAT professionals joining SPI will allow us to provide deeper expertise and capability in the Medical Transcription and Legal Services space, in addition to other BPO services, which we have identified as rapid growth areas for our organization. It's also an important step in our continuing plan to expand our overall business at a global level."

By divesting the business units in the acquisition, COMAT will now only focus on targeted initiatives in the areas of Government, Financial Services and Education.

"An added benefit of acquiring the COMAT Technologies business is greater access to vast resources and expanded talent," noted SPI Chief Operating Officer Carl Chinoy. "The relationships that COMAT has established in their years as a leader serving the professional services industry, the resources and expertise of the team we are bringing aboard, and the attractiveness of the combined organizations will draw top clients and talent, helping expand into new BPO markets and opportunities," said Mr. Chinoy.

"Executives at major companies are developing sophisticated offshoring plans," added Mr. Chinoy, "And the professional services arena is seeing explosive growth and is in need of providers who can play innovative and strategic roles – not just offering low cost. We see this acquisition as an important step in rapidly growing into that space."

A growing body of recent research shows that companies are increasingly looking at offshore outsourcing for reasons other than merely lowering operating costs. Pressures include the need for existing staff to focus more on strategic work, the need for quicker turnaround on projects, the demands of 24/7 operations, and growing global competitiveness.

"The stakes are growing ever higher, and certainly the professional services arena is no exception," said Mr. Mookerji. "With competition more pronounced, and today's customers more discerning, the ability of organizations like SPI to offer customers deep industry expertise along with CMMi Level 5 processes and experienced Six Sigma Black Belt certified project managers will be increasingly in demand by forward-thinking customers. We intend to fulfill their needs."