NEW DELHI : Everstone Capital is in discussions with different personal fairness companies and strategic traders to exit one among its bets within the info know-how sector, stated two folks conscious of the matter.
The India-focused personal fairness agency is seeking to promote its whole stake in buyer interplay administration agency Servion World Options Ltd.
Everstone is claimed to be holding a majority stake within the Chennai-based firm. The dimensions of the stake couldn’t be ascertained.
“The PE fund has appointed BDA Blair as sell-side advisor. A number of strategic and monetary traders have been , given it’s within the sizzling area of cloud contact centre administration options. 4 to 5 potentials are within the race presently,” one of many two folks cited above stated on the situation of anonymity.
The potential transaction could possibly be price round $200 million, the particular person added.
The second particular person stated Everstone is in talks with personal fairness agency CVC Capital Companions amongst others for the transaction.
“Servion integrates and manages options of main cloud CX suppliers like Genesys, Amazon, Cisco, Verint, Zoom, and Microsoft. The enterprise has grown 25-35% year-on-year over the past two years,” the particular person stated, highlighting the elements driving robust investor curiosity within the firm.
Queries emailed to Everstone Capital, Servion World and CVC Capital remained unanswered until press time.
PE companies, each native and world, have been aggressively chasing IT and ITeS bets, particularly within the digital product engineering providers area. Trade physique The Nationwide Affiliation of Software program and Service Corporations (Nasscom) has pegged India’s engineering R&D sector to submit a compound annual development charge (CAGR) of 13% to succeed in $65 billion by 2025, greater than doubling from $31 billion in 2019.
Within the latest previous, one other homegrown personal fairness agency Kedaara Capital has struck back-to-back offers within the IT providers sector.
It bought a majority stake in GAVS Applied sciences Ltd, a world IT providers supplier with a give attention to AI-led managed providers and digital transformation, and Nice Software program Laboratory Pvt. Ltd, a digital product engineering providers firm.
In November 2014, Everstone, together with American personal fairness agency Solmark LLC, had invested ₹403 crore in Servion. The fund returned in Could 2017 to infuse extra capital into the enterprise.
Integrated in 1991, Servion has experience in consulting, implementing and managing buyer expertise administration (CEM) options and applied sciences.
The corporate claims that its greater than 1,000 workers cater to greater than 600 enterprises globally.
The corporate had additionally witnessed a change in management. In 2019, Sameer Gupte, who was then the chief government officer, was changed by Laurent Philonenko. Previous to Servion, Philonenko had held senior roles in organizations together with Cisco, Avaya and Genesys.
Servion had additionally made acquisitions prior to now. In March 2018, the corporate purchased out Zurich, Switzerland-based insurtech agency Innoveo AG for an undisclosed quantity.
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