ICICI OneSource, the Indian offshoring company, has acquired a 51% stake in Pipal Research, an Illinois-based research company that intermediates between US companies wanting to offshore and Indian suppliers.
Pipal Research specializes in providing business research, analytics and information services. “It is part of our strategy to constantly add new capabilities and widen our service offering,” says Ananda Mukerji, Managing Director & CEO, ICICI OneSource. “As business and information research is becoming highly specialized, the world’s leading companies are recognizing the value in outsourcing it to experts. Our stake in Pipal will give us strong capability in this field and this will translate into added value for our customers.”
Manoj Jain, CEO, Pipal Research added that the acquisition will “leverage ICICI OneSource’s financial strength and brand equity to build on our success to generate further high growth levels and to expand our service offering.”
Founded in 2001, Pipal Research provides research, analytics and information services to the financial services, pharmaceuticals, biotechnology, utilities and IT sectors. Pipal’s clients include investment and commercial banks, accounting firms, management consulting firms, consumer finance companies and law firms. Pipal Research has an onshore-offshore delivery model, with projects created in the US and execution delivered in India. Post ICICI OneSource’s investment there will be no change in Pipal’s management or in its delivery model.
Typical examples of Pipal Research’s services in Banking and Finance include equity research, analysis of fundamental and technical stock characteristics, M&A advisory, Industry “Structure-Conduct-Performance” analysis, bond and portfolio analysis, valuation models, operations benchmarking and competitive intelligence.