One Point One Solutions buys majority stake in ITCube Solutions

Business Process Management (BPM) services provider One Point One Solutions Limited is expanding its global footprint through a majority stake acquisition in ITCube, an IT/BPM services company headquartered in Pune and Cincinnati, Ohio. According to One Point One Solutions, the acquisition will enable the company to expand its current verticals, including healthcare and IT services offerings.

ITCube Solutions, which has clients, partners, and offices worldwide, offers cutting-edge operations and digital solutions in the healthcare and construction space. The consolidated turnover of ITCube Solutions for the financial year ended March 31, 2023, was Rs 53.57 crore with an EBITDA of Rs 12.15 crore.

One Point One Solutions specializes in customer life cycle management, business process management, and technology servicing, including customer care, lead generation, content management, voice analytics, accounts payable and receivable management, predictive analytics powered by artificial intelligence, chat and voice bots, Interactive Voice Response, and email management.

Since its public debut in 2017, the company has provided solutions to a wide variety of industries, including banking and finance, telecom, insurance, consumer durables, FMCG, e-commerce, retail, and more. With service centers in Navi Mumbai, Gurgaon, Chennai, Bangalore, and Indore, it has a workforce of over 5,000 professionals and was founded in 2006.

Akshay Chhabra, Founder, and Managing Director of One Point One Solutions said, “This strategic move represents more than just an expansion of our business—it signifies our commitment to innovation, growth, and solidifying our presence on the global stage. ITCube Solutions brings a wealth of expertise and experience in IT + BPM/KPO services, with a strong foothold in Pune and Cincinnati, Ohio.

The company aims to strengthen its footprint, especially in the healthcare space. The global Healthcare BPM market, estimated at $309.6 billion in 2023, is projected to grow to $490.84 billion by 2027, at a CAGR of 12.2% globally. 

Chhabra sees cost optimization in healthcare companies driving growth for outsourcing. “Rising incidence of chronic diseases, increased emphasis & usage of medical devices, growing demand for the preservation of medical records and healthcare reforms, rising cost of building healthcare infrastructure, and digitized medical Document Management System, which shortens retrieval time, will drive the growth of the Healthcare BPM market,” the company said in a statement.

India is one of the preferred destinations for setting up Global Capability Centers (GCCs). The IT Industry, pegged at 7.4% of India's GDP, is projected to be 10% in 2025. Besides, India accounts for 40% of global sourcing spending.