HOV Services, a Pune, India-based business process outsourcing company, has acquired 30% stake in TRAC Holdings and SAM Holdings from the U.S.-based private-equity firm HandsOn Ventures for $3.74 million. The two companies combined are expected to deliver in excess of $17 million profitable revenues for FY’ 08.

Under the terms of the agreement, HOV Services will manage and control the acquired companies, and has also an option to purchase the remaining 70% stake in the companies.