|
New Yorkbased REcap PartnersLLC has agreed to acquire Chennaibased business process outsourcing BPO firm HOV Services along with its two units operational in Beijing and Hong Kong for total consideration of Rs 950 crore. HOV Services came in headlines when it acquired USbased Lason for USD148 million. The deal was considered as the one of the biggest acquisitions in the BPO segment.
In an official release, HOV Services has informed that it has received an offer from REcap PartnersLLC to purchase all assets including shares owned by HOV Services and LLC a key subsidiary of the company incorporated in Nevada, USA, the entire share capital in HOV Services Beijing presently held by HOVS Holdings and all operating assets used by HOVS and HOVS Beijingowned by the company.
A top company official from the finance department said, REcap has agreed to our terms and conditions and a final settlement in this regard is expected soon. Since the company planning to buy out HOV assets is one of the promoters of HOV Services, the deal should be smooth.
HOV Services Limited, together with its subsidiaries, provides business process outsourcing services in North America, India, China, and Mexico. The companys customers include over 50 percent of FORTUNE 100 companies across key verticals such as financial services, telecommunications, healthcare, insurance, construction, publishing, finance and accounting and government.
|