With the deadline for the first round of bids soon set to expire, Vertex’s parent company, United Utilities, is said to value its subsidiary at between 400m pounds ($760m) and 500m pounds ($950m). However, Computer Business Review understands that a potential deal with TCS has already stumbled over price, suggesting that United may be asking too much for Vertex.
Speculation on Vertex’s future began in June, when United revealed it was bringing in investment bank Merrill Lynch to scrutinize the operation’s performance. United has repeatedly insisted that this was merely an attempt to identify areas for future growth, rather than the first part of a disposal strategy.
When contacted by Computer Business Review to give its view on the latest media reports, United once again refused to comment.
In May, 3i brought in Akshaya Bhargava, former head of BPO at Infosys, to head up its move into the BPO market. As part of its strategy to acquire Vertex, the investment group is rumored to have teamed up with Quatrro BPO Solutions, a start-up founded by offshore entrepreneur Raman Roy.
