The HOV Services Ltd was incorporated in 1989 as Codec Communications Private Limited. The Company commenced its operations as a software services company on January 10, 1989. The name of the Company got changed to HOV Services Private Limited on February 27, 2006. The Company became a Public Limited Company on January 5, 2006 and the name of the Company was changed to HOV Services Limited on March 9, 2006.
The Company operates as a hybrid between an investment and a diversified services company. The Company's business encompasses majority of Software and IT Enabled Services and the prevailing trend would further enforce the importance of outsourcing, as companies will be compelled towards curtailing cost without sacrificing on quality. Outsourcing as a tried and tested model, entities outsource their work to improve productivity by allocating more time in improving their core competencies.
HOVS' genesis began by strategically positioning itself in the IT-BPO space through both acquisition and organic growth. In its more recent history, we have entered into the environmental protection industry. HOVS, through its indirect subsidiary, is designing and developing advanced solutions for solving problems related to erosion control, soil stabilization, environment conservation and construction in infrastructure projects, as well as in the application sectors of roads, railways, rivers, channels, landfills, coastal protection & civil construction. We are reviewing promising opportunities in the environment protection space, more specifically in the area of coastal protection.
Portfolio companies acquired and controlled by HOVS are spread across the globe. Areas of investment and focus include the US, Canada, India, China, Mexico and the Philippines. Management and each of our business divisions direct our combined group growth strategy, direction and administration.
The Company has the following subsidiary companies HOVS LLC incorporated in Delaware under the laws of United States of America; HOVS Holdings Limited incorporated under the Companies Ordinance of Hong Kong; and HOV Environment Solutions Private Limited incorporated in Maharashtra under Indian Company Law.
On April 29, 2011, the Company completed the merger of its indirect subsidiary HOV Services LLC with SOURCECORP, Inc., a portfolio company of Apollo Management V, L.P. The merged entity called SourceHOV LLC, reflecting the union of the two companies and our expanded capabilities.
SourceHOV is a provider of end-to-end business process outsourcing solutions with highly customized services as well as specialized knowledge-based processing and consulting solutions. The company offers clients in information-intensive industries, such as healthcare, financial services, legal, public sector, and transportation, the solutions to manage their information and document intensive business processes and the solutions to fulfill certain specialized knowledgebased processing and consulting requirements, enabling these organizations to concentrate on their core competencies.
Hov Services recently entered into the environmental protection space through a newly created indirect subsidiary, HOV Environment Solutions Private Limited (HOV ESPL) to design and develop advanced solutions for solving problems related to erosion control, soil stabilization, environment conservation and construction in infrastructure projects, as well as in the application sectors of roads, railways, rivers, channels, landfills, coastal protection & civil construction.