In the largest acquisition by an Indian business process outsourcing (BPO) company till date, Pune-based HOV Services has acquired US-based BPO Lason for $148 million (about Rs 660 crore).
The leveraged buyout –- effective Wednesday — is valued 3.5 times the acquirer’s current turnover if its March 31, 2006, figures of Rs 164 crore are taken into account.
HOV will acquire Lason through HOV Services LLC, its wholly owned subsidiary in the US. The company has raised $188 million (around Rs 837 crore) through a combination of equity and debt instruments.The company will thus have cash worth $40 million (around Rs 180 crore) post-acquisition to finance its future activities.
Read more in The Business Standard article
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