HCL to fully acquire American firm UFS

HCL Technologies has announced that it is set to fully acquire US-based mortgage business process and fulfillment services provider Urban Fulfillment Services (UFS). The total reported cash consideration for the transaction is up to USD30m, including contingent payments subject to certain financial milestones. Anoop Tiwari, Corporate Vice President and Global Head – Business Services of HCL Technologies, said that the acquisition of UFS will strengthen HCL’s capabilities in mortgage BPO services, loan fulfillment, and debt servicing space. Founded in 2002, UFS operates in three US centers and has a team strength of over 350 professionals.