IBM, Capgemini and TCS are battling out to acquire Captive BPO, an outsourcing are of finance major Citibank. The year-long speculation on acquisition of the BPO unit seems to reach its climax with IBM being considered as the leading contender for its strong asset-base.

Succumbing to the pressure raised by credit-related losses in US, Citigroup has been trying to re-structure its Indian operations of about $1 billion.

Presently, IBM BPO houses about 20,000 employees in India and also looks forward to grow in number if it manages to buy out beleaguered BPO Company.

Both IBM and Citigroup declined to comment on this story. X

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The Economic Times