LPO India News Issues
Pangea3, an India LPO company, has been sold to Thomson Reuters. Employees with stock options might be compensated well. The sale price is only known to be US$35-40 million, but no exact figure is available. Pangea3 has a US presence for marketing, but is now planning on building onshore delivery centers to emulate the Indian LPO centers. The ability to offer 24 hour service was one factor.
LPOs and the Music Industry
An India LPO company in Mysore SDD Global Solutions has been able to participate in helping a non-profit organization called Fight The Power Foundation. Fight The Power is an organization that represents music artists who claim they have been cheated out of royalties owed to them by large record companies. Many record companies believe that the artists don’t have the resources to sue them. SDD has also represented Ali G and Borat (Sacha Baron Cohen). Fight the Power Foundation is being incorporated by rapper Chuck D.
Another buyout of an LPO in India
UnitedLex, founded in 2006 in the U.S. has purchased LawScribe, a Legal Process Outsourcing company. Lawscribe has its main office in Los Angeles, CA with additional offices in New York and Gurgaon which is near Delhi. Lawscribe focused mainly on document review, intellectual property, corporate transactions and legal research.
Growth in the India LPO Industry
The Indian LPO industry grew by around 40% during the global economic downturn, and is expected to grow around 26% per year for the next few years.
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