HCL Technologies to acquire US-based mortgage BPO provider Urban Fulfillment Services

HCL Technologies (HCL) is acquiring US-based mortgage business process and fulfilment services provider, Urban Fulfillment Services (UFS). HCL will be acquiring 100 per cent stake in UFS. The total cash consideration for this transaction is up to $30 million, including contingent payments subject to certain financial milestones.

With over 350 highly skilled professionals, UFS operates out of 3 centres in the US, engaged in providing mortgage business process and fulfilment services to its customers.

The acquisition of UFS strengthens HCL’s capabilities in mortgage BPO services, loan fulfillment and debt servicing space,” said Anoop Tiwari, Corporate Vice President and Global Head – Business Services, HCL Technologies.“Combining UFS’ talent and client portfolio with HCL’s deep industry expertise and business acumen, offers us the unique opportunity to provide platform–based services on our own platform, driving transformation through robotics process automation.”

“The synergies between UFS’ client focused and efficient business processing services and HCL’s technology leadership and financial strength will create an unparalleled competitor and leading provider of state-of-the-art services to the enterprise customers,” said Charles S. Sanders, CEO of Urban Lending Solutions.