One Point One Solutions, a leading Business Process Management company, has acquired a majority stake in ITCube Solutions an IT and BPM/KPO services company, for an undisclosed amount.
The acquisition will enable One Point One Solutions to expand its current verticals, including healthcare and IT services business.
ITCube Solutions provides software development, Business Process Outsourcing and IT-enabled services to customers, partners and offices worldwide.
ITCube, which has offices in Pune and Ohio (the US), is in the business for over two decades. The debt-free and profitable company has over 600 professionals servicing the healthcare and construction sectors.
The company has over 30 leading brands across the US, England, Netherlands, Germany, Kuwait, Oman, UAE, Qatar, India, Singapore and Australia, with an impressive 10+ clients serviced in the last 15 years.
The consolidated turnover of ITCube in the financial year ended March 31, 2023, was ₹54 crore with an EBITDA of ₹12 crore.
Akshay Chhabra, Managing Director, One Point One Solutions, said the strategic move not only provides scope for business expansion but also signifies the company’s commitment to innovation, growth and solidifying presence in the Global stage.
The synergies between both companies will help navigate future challenges and opportunities impeccably, empowering to deliver unparalleled value to clients and stakeholders, he said.
India is one of the preferred destinations for setting up Global Capability Centers. The IT industry accounts for 7.4 per cent of India’s GDP and is projected to be 10 per cent in 2025. India also accounts for 40 per cent of global sourcing spending.
Global Healthcare BPM market, is projected to grow to $491 billion by 2027, at a CAGR of 12 per cent globally. Cost optimisation in healthcare companies is driving growth for outsourcing.