MphasiS buys AIG's Indian arm

Over 39 per cent of the MphasiS revenues are from the Financial Services and Insurance (FSI) Industry Vertical. This transaction further strengthens the FSI industry offerings of MphasiS with a significantly enhanced insurance solutions portfolio.

The acquisition of AIGSS will help MphasiS augment its capabilities for the insurance industry and offer domain solutions, the company said in a release.

Based in Chennai and Kolkata, AIGSS has more than 800 employees and provides IT services to AIG and its member companies.

Its service offerings include application development and maintenance, application implementation, testing, product development and support.

“MphasiS has a strong presence in the insurance vertical, this acquisition further strengthens our ability to add greater value to insurance clients.” MphasiS Chief Executive Officer, Ganesh Ayyar said.