A privately-held company with 1257 employees, Comicrom provides BPO services to banks, insurance companies, pension funds, government bodies and other large corporations in Chile. The company had revenues of US $35.5 million during FY 2005 and operating margins of 14 percent.

Comicrom is the leading player in the Banking BPO sector with a 57 percent market share of the check processing business in Chile and counts more than 70 percent of the banks operating in Chile as its customers.

"This acquisition is a further step in realizing TCS' strategy of acquiring leadership in platform-based BPO for the Banking and Insurance domain. It also expands TCS' capability in terms of becoming a full services player," said S. Ramadorai, CEO & MD of TCS. "Comicrom brings significant capability in transaction-based banking processes and market leadership in Chile", he added.

Following TCS' recent outsourcing engagement with the Pearl Group of the UK, the acquisition of Comicrom further augments TCS' presence in the global Pensions industry. Comicrom is an established player in this sector in Chile, processing 67 percent and 55 percent of total premium payments per month for four of the seven pension funds and health insurance providers respectively. This uniquely positions TCS as a high-end, global player in the Pensions sector.

Gabriel Rozman, president, TCS Iberoamerica said: "Comicrom's long-time presence of over 25 years and strong client base gives TCS ready access to local knowledge of the market as well as provides us with deep customer relationships to help drive growth in this entire continent."

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