Azure picks up 49% in US mortgage firm Citizen Financial
Azure Styx Infotech, an Ahmedabad BPO firm has acquired a 49% stake in a US based mortgage broker company, Citizen Financial Mortgage, located at Philadelphia. The total deal value was around $25 million.
In a second deal, Azure has combined with CfMC, a Market Research application software company based out of San Francisco to set up a JV in the US in which it will hold a majority stake. CfMC has nearly 60% market share in the US for market research tools and application software.
Azure, set up in Ahmedabad in 1991, has a 2000+ seat operation across four centres in Ahmedabad and 15 seats in China. It caters to sectors like IT and telecom, healthcare and pharmaceuticals, FMCG and consumer goods, BFSI (banking financial services and insurance), retail and manufacturing.
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