Everstone Capital, Solmark invest $66 million in Servion Global
The investment has been done through Evertech Pte Ltd, Everstone’s technology investing platform
Mumbai: India-focused private equity firm Everstone Capital Advisors on Thursday said that it has signed an agreement with private equity fund Solmark, to acquire a controlling stake in Servion Global Solutions Ltd (Servion) for $66 million (Rs.403 crore).
The investment has been done through Evertech Pte Ltd, Everstone’s technology investing platform, the firm said in the release.
Servion specializes in customer interaction management (CIM) solutions and applications which enhance customer interactions through the phone, Internet, email, chat and social media. The company had revenue exceeding Rs.350 crore in fiscal 2014 and a customer base and global footprint of more than 60 countries.
“Servion is at an inflection point today. We aim to widen our footprint...To enable us to get there, we need to make strategic investments in several critical areas, and this partnership with Everstone and Solmark will help us address that,” said Balakrishnan K., managing director and chief executive of Servion.
Prateek Dhawan, managing director, Everstone and Puneet Pushkarna, general partner, Solmark, will join Servion’s board.
The transaction, which was advised by Avendus Capital, will provide an exit to most of the existing investors and non-working promoters, Everstone said in the release.
Editor's Picks »
- Govt tussle with RBI could undermine long-term financial stability, says S&P
- Opinion: Goldman 1MDB charges will give bankers shivers
- Dubai’s DP World seeks to quash India antitrust probe over Mumbai port
- Bhupesh Baghel sworn in as Chhattisgarh chief minister
- Bank of Baroda to shut three overseas branches by June
- Does Reliance Jio see need to deleverage?
- 4 years since Senvion sale, turnaround continues to elude Suzlon
- Falling fuel prices, new axle norms to help cement makers save freight cost
- Tailwinds of debt reduction and annuity sales drive DLF’s shares
- Expecting a quick recovery in rural consumption will be foolhardy