NEW DELHI: Raman Roy & Associates has been re-christened Quatrro and the new company is already on the prowl. It is acquiring the 300 people BPO arm of Flextronics — FSS BPO — focused on the telecom vertical, for an undisclosed price.

US-based private equity player KKR, that recently bought Flextronics Software Services for about $900m, had recently hived off the BPO unit.

Besides this, Quatrro is tying up over $100m of funding from private equity players like Texas Pacific, Chrys Capital and Olympus Capital.

The game plan is to extract top management teams from global corporations, incubate BPO companies in areas like mortgage, healthcare, legal services, market research, analytics and others and later spin them off as independent companies.

Quatrro has identified 11 areas now, but will eventually focus on 5-6 areas. Quatrro is different from anything that Indian BPOs have seen as yet. The 1,20,000 square feet (double the size of Raman Roy’s previous start-up, Spectramind) Quatrro facility getting finishing touches in Gurgaon, will be an umbrella organisation to house multiple high-end BPO companies within its fold.

Besides the Flextronics acquisition, Quatrro is close to extracting management teams from a Fortune 10 company and one of the largest accounting firms in the world. When contacted by ET, Raman Roy, founder, chairman and managing director, Quatrro, declined to comment on the acquisition.

He, however, told ET: “We have a string of pearls strategy. We will extract management teams from existing corporates and build high-end services delivery capabilities in virgin areas. We are in advanced stages of discussions to build our analytics and finance and accounts teams. Incubating companies is a critical component of the strategy.”

Quatrro’s previous investments (when it was RR & Associates) include 40% stake in Annik Technologies and 22% in Auxicogent, the BPO division of John Keells, a shipping and port company. Quatrro will offer Auxicogent’s process delivery capability to other shipping and port clients around the world. Says Mr Roy, “We will help create units that can run on their own feet. 

We will share common costs for the 5 or 6 areas we are evaluating so that we can cross leverage bandwidth, facility, transport and other infrastructure.” Another big area for Quatrro is M&A. Says Mr Roy, “We see lot of consolidation in the BPO industry over the next 18-24 months. Lot of companies are facing a glass ceiling. Their ability to make money is limited.

We will help them upgrade their management skills and capabilities.” While V Balakrishnan, former CFO of Wipro, will spearhead the M&A efforts, Srinivas Pingali, former head of Accenture India’s insurance vertical, will look after new product development at Quatrro.

The 30-people (excluding Annik and Auxicogent workforce) start-up has also roped in Navdeep Rajendra, who formerly looked after American Express’s international BPO business out of India, to look into new service lines, and Ajay Aggarwal, a senior US qualified lawyer, to build the legal practice. Of the former top management of Spectramind, about 8-10 people now occupy senior positions in the new entity.