IBM snags outsourcing firm in India

IBM will acquire Daksh, India's third-largest back-office services company, in the biggest acquisition yet in that nation's booming $3.5 billion sector.

Both companies declined to give financial details, but industry sources estimated the buyout--the U.S. giant's first in India--at $150 million to $200 million. That would make it one of the biggest foreign acquisitions in India in the past few years.

The deal, announced Wednesday, is expected to close in May. It will give the world's largest computer maker access to privately held Daksh's 6,000 employees, who mainly offer call center services to 13 clients including Internet retailer Amazon.com.