Private equity firm attracts India BPO specialist

3i brings on board Akshaya Bhargava, erstwhile CEO of Infosys' BPO subsidiary to lead foray into investing in BPOs.
3i announced yesterday that it had recruited Akshaya Bhargava to head its new focus on the business process outsourcing BPO industry, a market estimated at $170 billion. Speculation has been rife about BhargavaÆs plans since he resigned his job in January this year.

3i has brought in a BPO expert to spearhead its foray. BhargavaÆs last job was as chief executive officer of Progeon, InfosysÆ BPO subsidiary. Under BhargavaÆs stewardship Progeon grew to an $86 million business with more than 7,000 employees.

3i announced its focus would be on buyouts with a value up to $1 billion or growth capital investments up to $150 million. Specifically, within the BPO sector 3i will look at companies...
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