1. Everstone to pick up controlling stake in Servion for Rs 403 cr

Everstone to pick up controlling stake in Servion for Rs 403 cr

Everstone Capital, along with Solmark, has signed an agreement to invest Rs 403 crore for acquiring a controlling stake in Chennai-based Servion Global Solutions (Servion).

By: | Chennai | Published: November 21, 2014 4:27 AM

Everstone Capital, along with Solmark, has signed an agreement to invest Rs 403 crore for acquiring a controlling stake in Chennai-based Servion Global Solutions (Servion). The investment has been done through Evertech Pte, Everstone Group’s technology investing platform.

Servion specialises in delivering cutting-edge customer interaction management (CIM) solutions and applications for companies, enhancing customer interactions via the phone, internet, email, chat and social media. The company has revenues exceeding Rs 350 crore in FY2014, a marquee customer base and global footprint of more than 60 countries.

Prateek Dhawan, managing director, Everstone, who led this transaction and will be joining the board of the company, said, “Servion’s cutting edge solutions and outstanding management team offer a unique and strong investment opportunity. Combining efforts with our long-standing friends and partners at Solmark will enable us to propel the company’s growth to the next level.”

Balakrishnan K, CEO & managing director, Servion, said, “… We need to make strategic investments in several critical areas, and this partnership with Everstone and Solmark will help us address that.

Puneet Pushkarna, general partner, Solmark, said, “We look forward to working with the talented management and employees at Servion to accelerate the company’s growth and strengthen leadership as a complete CIM solution provider. We are also excited to work with friends at Everstone as partners and co-investors.”

Prateek Dhawan and Puneet Pushkarna will be joining the board of Servion. The transaction, which was advised by Avendus Capital, will provide an exit to most of the existing financial investors and non-working promoters.

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