Business process outsourcing (BPO) company Sutherland Global Services has acquired India’s Adventity, a business and financial research service firm, in an all-cash deal. Sources said the deal is valued at around Rs 250 crore and is said to be the first acquisition by the company in 24 years. Adventity has over 2,500 employees in New York, Houston, Mumbai, Chennai and Dubai.
Adventity, focuses on providing platform-based BPO services to banks and financial services companies and to airlines and travel industry. It also offers comprehensive and innovative knowledge services to banking, financial services and insurance (BFSI) segment including research and analytics and transaction services to clients world-wide.
“Sutherland combines back-office and customer facing front-office services to drive productivity and deliver measurable results for its clients. The offerings and approach at Adventity completely aligns with our strategic direction of expanding our presence in key verticals through platform based integrated solutions. The acquisition of Adventity will extend Sutherland’s service capabilities and broaden the company’s marquee client base,” said Dilip Vellodi, chairman and CEO, Sutherland Global Services.
Adventity’s global clients will now be able to leverage Sutherland’s secure and scalable worldwide infrastructure and would have full access to Sutherland’s suite of services. Sutherland will utilise Adventity’s capabilities and domain expertise to secure a leadership position in complementary verticals in the vital emerging markets of Asia, Africa and the West Asia, he added.
Dilip Vellodi is the major promoter of Sutherland followed by private equity (PE) investors like Oak investments partners and Standard Chartered private equity holding minority stakes in the company.
“Our global search for the right partner ended with Sutherland, in whom we found a company who would take the leadership position in the BPO space. In Sutherland, we found a true multi-national with a balanced and global delivery approach. Headquartered in the US, which is 65% of the global BPO market, Sutherland’s close-to-customer engagement model and an exceptional multi-national leadership team appealed to us. We are indeed excited about joining the Sutherland team and taking our growth plans to the next level,” said Kumar Subramanian, CEO Adventity.
Source:http://www.financialexpress.com/news/Sutherland-acquires-R-D-firm-Adventity-in-an-all-cash-deal/618006/

