Everstone Capital, an India focused PE firm along with US-based Solmark, has signed an agreement to invest Rs 403 crore ($66million) for acquiring a controlling stake in Chennai-based Servion Global Solutions.
Servion is provider of 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, and global footprint of more than 60 countries.
The investment has been done through Evertech Pte Ltd, the Everstone Group’s technology investing platform. 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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“Servion is at an inflection point today. We aim to widen our footprint, design and adopt new age technologies, deepen our understanding of customer problems and as a result, positively impact every single interaction happening across the world. To enable us to get there, we need to make strategic investments in several critical areas, and this partnership with Everstone and Solmark will help us address that,” said Balakrishnan K, CEO & Managing Director, Servion.