Headstrong acquires US based BPO firm

[dwarakesh]

Global financial services consulting firm, Headstrong has acquired Florida based Lydian Data Services (LDS), a diversified financial services firm. Lydian Data Services is a BPO company that provides business connectivity and transaction management solutions to mortgage originators, secondary market conduits and investors. The financials of the deal were not disclosed by the company.

Following the acquisition Lydian Data Services is now Headstrong Business Services. The company will be overseen by Rakesh Mittal, Senior Vice President, Headstrong. However, the present CEO of Lydian, William Decker, will remain in chair.

The acquisition of Lydian Data services, is part of Headstrong's multi pronged strategy to achieve $500 million in revenues by 2011. "This acquisition is value based acquisition. We are not buying a company. We are buying competence," said Harsh Singh Lohit, Managing Director, Headstrong India.

With acquisition of LDS and its platforms, Headstrong is now positioned as the premier financial services consulting firm to offer a full suite of services from consulting and implementation to mortgage, processing to its global clientele.

Pointing to the timeliness of this deal, Sandeep Sahai, President and Chief Operating Officer, Headstrong said that even in a depressed market, at least 11 million mortgages will be processed in 2009, making it an estimated $9 billion processing market. "With the platform and expertise we have acquired, this is a significant opportunity for Headstrong," he added.

In 2003, Headstrong had merged with Techspan in a deal worth over $20 million. Today Headstrong is $200 million company with 3000 employees, with 1600 based out of India.

Source: bpowatchindia