Live news , top stories, corporate news, company news, sector news, economy news, results analysis news, ceo interviews, fund manager interview, advisor interview, market news, bazaar talk, hot stocks news, ipo news, commodities news, mutual fund news, insurance news, news wire
18 May, 2024 16:46 IST
Mphasis signs business venture agreement with Ardonagh
Source: IRIS | 24 Dec, 2021, 07.34PM
Rating: NAN / 5 stars.
Comments  |  Post Comment

Mphasis, a provider of IT applications, infrastructure and BPO services, and Ardonagh Group, UK (Ardonagh) have signed business venture agreement wherein, Mphasis acquires 51% in Mrald, a company incorporated and registered in England and Wales, with 49% of the equity remaining with Ardonagh. Mrald will service middle and back-office functions, and is aimed at expanding in two areas - insurance operations and technology capabilities; and new clients across the Ardonagh and third party clients in the insurance intermediate market.

Mphasis holds a majority share (51%) with both operating control and full economic interest, as well as bringing their existing offshore expertise to constitute an extended global outsourcing & transformation proposition and capability that can be harnessed to personalise and to meet individual UK customer needs.

Shares of the company gained Rs 32.25 or 1.01%, to settle at Rs 3,218.65. The total volume of shares traded was 19,475 at the BSE (Friday).

 Post Comment
Name Email
Security Code type    into this box
Related Articles
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer