Mumbai: Bangalore-based software development and BPO company, Valuemart Info Technologies Limited, formerly known as GDR Software Ltd., has announced the acquisition of a 74-per cent stake in Tejas Infoscripts Pvt. Ltd. Also a Bangalore-based BPO. Post acquisition, Tejas will be a subsidiary of Valuemart.

"The acquisition will give us a headstart in the fast growing Legal BPO segment" said Valuemart's director, C K Vasudevan.

Tejas Infoscripts' BPO operations are focused on the legal domain helping overseas law firms to increase their service value by freeing up attorney-time. Tejas provides outsourced work in back office transactions, data management, e-filing and research activities.

Tejas currently employs 50 people and is poised to grow to 150 people by March 2006.

Says T Mahesh, CEO of Tejas, "The acquisition will infuse fresh funds into Tejas to ramp up its present capacity and acquire new business."

Valuemart is offering IT solutions using new generation patent-pending technologies such as BPM, software application specification and RFID. It is also building a contemporary service platform for BPO services for banking, financial services and insurance verticals.

The equity shares of Valuemart are listed at the BSE and at the Bangalore stock exchange and Hyderabad stock exchange.