Mphasis shifts 2,000 employees to Karvy

Mphasis has sold a part of its India business to Karvy Data Management Services. This will lead to a transfer of 2,000 employees.

The company had already transferred two-thirds of its domestic business to Hinduja Global Solutions for Rs 17 Crores. That led to a transfer of 7,000 employees.

"Specialization and consistent strategy execution holds the key to success. This definitive agreement offers tangible proof of our commitment to execute our strategic road map." said Ganesh Ayyar, CEO of Mphasis said.

The company did not disclose the transaction value for the Karvy deal.

"KDMSL is optimistic about the overall business growth in India and hence better business volumes. Our pedigree and footprint in the country would enhance and integrate service offerings to clientele in addition to the existing voluminous transaction processing capabilities," V Mahesh, Managing Director of Karvy Data said.

(Image credit: Indiatimes)