HOV Services acquires Lason for $ 148 mln

New Delhi, Feb 26 (UNI) HOV Services, a leading business process outsourcing (BPO) company based in Pune, today said it has acquired US-based Lason, one of the leading providers of BPOs' solutions in the world as its wholly-owned subsidiary for 148 million dollars.

The merger will enhance marketing, servicing and delivery footprints to clients worldwide through integration, realignment and cross-selling.

Under the agreement, HOV's wholly-owned subsidiary in the US (LLC) will acquire 100 per cent of the outstanding equity securities of Lason for the said amount.

The company raised 188 million dollars of new capital from leading global institutions, 63 million dollars in equity and a debt facility of 125 million dollars.

The two combined companies will have trailing annual revenues in excess of 200 million dollar and its 11,000 employees will serve more than 50 per cent of the Fortune 100 companies including more than 4,000 active customers in the North American market.

''We have already differentiated our abilities with our clients by achieving best in class results,'' HOV's Executive Director Sunil Rajadhyaksha said.

He said, ''The acquisition will allow us to leverage our expertise and accomplishments by combining the strengths of our organisations and deploying a global infrastructure to address the needs of new markets and the synergies within our expanded marketplace.'' The company's clients will benefit of having delivery capability from over 49 locations located in the US, Canada, India, China and Mexico, delivering end-to-end integrated solutions including document-centric applications, workflow management, finance and accounting, electronic publishing and knowledge processing services.

Upon closing, the company will have over 85 million dollars in equity.

UNI