CHENNAI, India, November 21, 2014 /PRNewswire/ --
Basil and affiliates were the largest stakeholder in Servion, an IT Major focused on Customer Interaction Management domain
Basil Partners announced today that they, along with their affiliates and other investors, have signed an agreement with the Everstone Group to divest the substantial stake they held in Servion Global Solutions. The immediate consideration from Everstone to acquire the controlling stake is USD 66 M (INR 403 Cr).
Servion specializes 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 INR 350 crore in FY 2014, a marquee customer base and global footprint of more than 60 countries.
"We invested in Servion just over 3 years ago. We were attracted to Servion because of the strong management team and their focus on unifying multiple communication channels between their customer and end clients - a niche we felt had tremendous potential. The management team exceeded our expectations and the growth experienced by Servion over the past 3 years has been exemplary. Servion's cutting edge solutions and outstanding management team will offer a unique and strong investment opportunity," said Rajeev Srivastava, Managing Partner, Basil.
Balakrishnan K., CEO & Managing Director, Servion, said, "We would like to thank Basil Partners for working closely with the Servion management and helping drive growth of the company. The Basil investment enabled Servion to invest ahead of the curve in both technology offerings and business models. With Basil's active involvement as a strategic advisor, Servion has been able to further its specialization in the CIM domain, globally."
About Basil (http://www.basilpartners.com)
Basil is a Private Equity Fund focused on investing in high growth IT companies in niche technology sectors. Basil's investment philosophy is to partner with the portfolio companies in transforming them into global leaders in their respective domains. The Partners in the Fund are hands-on professionals who have managed leading IT & IT Enabled organizations. They add significant value to portfolio companies across Strategy, Sales & Marketing, Delivery & Operations and Finance. The capital comes from Basil Growth Corporation, a closed-end Private Equity Fund incorporated in Mauritius.
About Servion
Established in 1995, Servion Global Solutions Ltd. specializes in Customer Interaction Management (CIM) solutions that help companies enhance customer interactions via phone, internet, email, chat and social media. With over 600 customers and 1000 installations in more than 60 countries, Servion's products and solutions handle in excess of 7 billion voice/fax/Automatic Call Distributor (ACD)/Web/e-mail interactions per year. The company has an employee base of over 800. The CIM solutions are offered to a wide range of verticals such as banking and finance, telecommunications, business process outsourcing, transportation, retail, and hospitality.
For inquiries please contact:
Rajeev Srivastava, Basil | Ph: +65-9181-3475 | Email: rajeev@basilpartners.com
Vaishali James, Servion | Ph: +91-44-6108-4120 | Email: vaishali@servion.com
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