BT-Xansa deal renewed

Xansa will continue managing BT's UK finance and accounting up to 2014. Under the £128 million ($257 mn) contract, Xansa will develop its offshore potential in India. The deal offers administration processing, cash, treasury, accounts payable, ledger, payroll and reporting services.  
    
Firstsource takes over MedAssist for $330 mn
 
Firstsource has acquired US-based MedAssist for $330 million. Kentucky-based MedAssist is one of the leading companies offering revenue cycle management services to the US healthcare industry.  
    
String MPO to step up business in India
 
String Mortgage Process Outsourcing plans to expand its India operations. This is the result of rising demands from mid-sized financial firms in the US.  
    
Apollo Health takes over Zavata for $170 mn 

Apollo Health Street has acquired Zavata for $170 mn. This is likely to reinforce AHS role in the US market and also give more significance to the company's portfolio. The combined entity has a target of Rs 4000 million (approx. $100 mn) in revenue by March 2008.  
    
Effort BPO is out to sell 10% stake to Mulitex Holdings of Hong Kong 

Effort BPO, which provides services from Pune, Mumbai, Delhi and Indore, plans to sell 10% stake to Hong Kong-based Mulitex Holdings for an undisclosed amount. The two sides are still negotiating and the transaction would be completed by September first week. With current market valuation of about $24 mn, Effort would have 6,000 employees by March 2009.  
    
Indian BSNL signs $140 mn deal with TCS 

The Bharat Sanchar Nigam Limited (BSNL) signed a multiyear, $140 mn deal with TCS. Under the agreement, TCS will provide BSNL with an array of services like Business support systems and operational support systems.