Monday, November 22, 2010

Thomson Reuters has acquired one of India’s largest pure play LPO companies Pangea3

The acquisition price would be in the range of $35 to 40m (Rs 157 to 200 crore) as reported by Business Standard and citing unnamed sources.

The deal was announced by Thomson Reuters but did not disclose a deal value. Its legal division’s president and chief executive officer said in a press release that legal outsourcing added a vital strategic complement to the company’s portfolio of “specialised information and workflow solutions”, and would be the key to helping law firms and corporate legal departments be more “responsive and cost-effective”.
"Pangea3 is true to our mission to help the legal system perform better, every day, worldwide; we will now bring to the legal marketplace a responsive, high-quality, transformative resource for a broad range of legal support work,” he added in the statement.

Pangea3 declined to comment. Pangea3 and Thomson Reuters told Business Standard that they did not comment on speculation although neither denied the news.

Full article at