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Cambridge Just Sold To Scandent, A Singapore Based Company
By Pauline Grant - October 6, 2004

Scandent, a Singapore-based company which has an outsourcing business in India, has purchased the majority stake in the back-office unit of insurance broker Aon Corp for about $110 million, a source close to the deal said on Monday.

Work done by Aon's claims processing unit, Cambridge Integrated Services, will be migrated to India where Scandent subsidiary ProcessMind specializes in outsourced management of projects and insurance claims, the source said.

Scandent is a privately held company, which also has an IT consulting and services arm, Scandent Solutions, which was founded by Ramesh Vangal, a former head of food giant PepsiCo Inc in India, and Chris Sinclair, once chief executive of PepsiCo's food business.

Last year, Scandent also acquired the software service unit of SSI Ltd, whose main interest is in education related to information technology.

The Aon unit acquisition follows a series of consolidation moves in India's booming outsourcing sector. IBM bought call centre firm Daksh in April and Citigroup Inc took a majority stake in e-Serve International Ltd in August.

 
 

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