Our Bureau

Bangalore , Sept. 5

SCANDENT Solutions Corporation Ltd said on Monday that it is merging its group company and business process outsourcing (BPO) outfit Cambridge Services Holdings LLC with itself.

The new entity will be known as Cambridge Solutions Ltd, said a company press release.

Cambridge provides high-end BPO services for insurance, financial and healthcare firms, as well as specialised insurance claims management. Scandent Solutions offers business consulting, application implementation, software engineering, maintenance and support services.

Independent valuers KPMG India Pvt Ltd and Haribhakti & Co Chartered Accountants have fixed the share exchange ratio for the merger.

Scandent's share capital comprises 2,89,08,755 equity shares, while that of Cambridge comprises 1,28, 299 units.

For every one unit held in Cambridge, 583 fully paid-up equity shares of Rs 10 each of Scandent will be issued, the company said.

The merged entity will have a combined strength of over 3,500 employees across key global markets, including the US, the UK, Germany, France, Singapore, Japan, Malaysia and Australia, besides India.

"Increasingly, we see customers who want to integrate their outsourcing requirements with one vendor.

The merged entity will be uniquely positioned to offer customers a synergistic combination of BPO and IT services," said Mr Chris Sinclair, Chairman, Scandent Group, in a press release.

"By merging the two entities, not only do we get a larger footprint across the globe, but we will also have opportunities to cross-sell newer services to existing customers while offering a combined portfolio to new customers," said Mr Satyen Patel, Vice-Chairman, Scandent Group.

"We are targeting a turnover of $300 million plus in fiscal 2006," he said.

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