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Making its third acquisition this year, HCL Technologies, Indias fourth largest software exporter, on Monday said it is acquiring USbased Control Point Solutions, a provider of voice, data and wireless Telecommunications Expense Management TEM services at an enterprise valuation of USD20.8 million.As per the agreement, HCL would acquire four delivery centres along with over 200 professionals of Control Point, HCL said in a statement.
Privately held, Control Point Solutions CPS caters to enterprises and carriers across industry verticals. As part of the transaction, four of its delivery centres spread across the US with over 200 professionals come under HCLs fold. It manages the entire telecom expense lifecycle for clients, providing solutions for their voice, data and wireless requirements.
Control Point Solutions provides endtoend business processes for ordering and procuring telecom services, paying for such services at appropriate rates and data analytics to manage and control telecom costs. It owns platforms that cater to both enterprises and telecom operators.
Ranjit Narasimhan, president and CEO BPO Services, HCL Technologies, said the acquisition makes HCL the first BPO services provider to enter the TEM market. The strategic acquisition of Control Point Solutions is in line with HCL BPO’s goal to make strategic, platformbased acquisitions that give us sustainable competitive advantage in chosen verticals,.This acquisition enhances HCLs ability to become an endtoend provider of business process outsourcing services in the attractive TEM space, he said.
The acquisition of CPS is in continuation of HCLs strategy to seek non-linear growth opportunity. It will further enhance HCLs presence in finance and accounting BPO space, said Anil Chanana, executive vice president, finance, HCL Technologies. Langham Capital Ltd acted as financial advisors to HCL in the transaction. CPS has a client list spanning Fortune 500 companies and it has been catering to voice, data and wireless requirements for over two decades. HCL will leverage its existing experience in TEM to further diversify into other geographies and newer areas like utilities and freight, said Narasimhan.
Langham Capital Ltd acted as financial adviser to HCL in the transaction. The acquisition is subject to fulfillment of certain closing conditions, the statement said.
Bob McMullan, the CEO of Control Point Solutions Inc, said, Decision to join HCL is yet another strategic move aimed at advancing our position in the marketplace.It will enable Control Point to focus on and grow its core BPO business in both the enterprise and carrier segments.
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