EMR Technology Ventures (EMR) has acquired the Rubicon Group of companies, which includes Rubicon Health, Rubicon Claims and Rubicon Inspections. The deal represents the first step in EMR's strategic expansion into Europe .

EMR provides transaction-based BPO services to the financial-services and health-care verticals, and is based out of New Delhi , India with offices in the U.S. The Rubicon Group is a BPO business focused on policy administration and claims-management related services. Its clients are predominantly blue-chip U.K. and European insurers, banks and household-name corporates.

According to Rohit Arora the Chairman of EMR, the acquisition brings together deep BPO domain expertise from both sides of the transaction. EMR's intention is to develop Rubicon as the European portal for our combined insurance-services business and as such, it will remain a critical component of our business model going forward.

EMR's investment in the Rubicon Group will see the exit of existing shareholders the private equity group, Penta Capital.

The Rubicon Group was formed out of the administration of its former holding company, The Rubicon Corporation in January 2006, and has 200 employees with a profitable revenue base in the order of $20 million.