Hyderabad based firm Oremus buys Escribe
Oremus Corporate Services, a city-based finance and accounting (F&A) business process outsourcing (BPO) services firm, has acquired Escribe, a UK-based BPO company providing accounting, transcription and data services, in a part-cash and part-stock deal.
Hyderabad: Oremus Corporate Services, a city-based finance and accounting (F&A) business process outsourcing (BPO) services firm, has acquired Escribe, a UK-based BPO company providing accounting, transcription and data services, in a part-cash and part-stock deal.
Escribe’s subsidiary ELTA is one of the largest licenced trade accounting service providers in the UK. Escribe, which has offices in Chennai and Mizoram in India, also provides bespoke audio transcription services, and back office data services to surveyors, law firms, insurance companies and loss adjusters in the UK and Ireland.
Oremus acquired the business to expand its footprint in the UK and to enhance its capacity to cater to the rapidly-changing business environment in the UK and other geographies. Oremus currently has a large client base in the USA and India, and Escribe will be a good strategic fit for expanding and catering to the licenced trade business across geographies, the company said in a statement on Tuesday.
Transcription and data services capabilities of Escribe will help Oremus integrate and build data and document management services. The complementing technologies of Oremus and Escribe will provide strong capabilities for converting various forms of information into meaningful data, accounting information and analytics, it added.
“This acquisition accelerates the expansion of our F&A outsourcing operations into the UK Market. With the addition of Escribe capabilities, Oremus can now meet the requirements of clients in UK,” said Oremus Founders Raj Rayaprolu, BalaPadmanabhan and Suresh Gupta.
