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Competition Commission has approved Mphasis-Karvy deal

The Competition Commission of India has approved the Karvy Data Management Services’ proposed acquisition of domestic business process management business of Mphasis, the leading IT solutions provider.

The regulator said that the proposed deal is not likely to have an appreciable adverse effect on competition in India. Karvy Data Management, under the combination will be acquiring Mphasis’ domestic business process management or outsourcing (BPM/BPO).

CCI said in its order dated August 4, “It is observed that post combination, the market share of the acquirer would not be significant. Further, the presence of a large number of players in the domestic BPM/BPO sector, including the presence of strong competitors such as Concentrix, Aegis Ltd, Firstsource Solutions Ltd, etc, would act as a competitive constraint on the acquirer.”

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