Pune-based HOV Services has acquired US-based Lason for $148 mn (about Rs. 660 crores). The acquisition was completed through HOV’s US wholly-owned subsidiary HOV Services LLC and was funded by HOV Capital, Merrill Lynch and Apollo Management; the three of them have invested $63 mn, rest of the acquisition has been funded by debt.
HOV had recently acquired Tracmail and SAM Holdings for $3.74 mn. The Lason acquisition will help HOV gain entry in new business verticals like transaction processing, healthcare and media. Lason has an Indian subsidiary based in Chennai, with a headcount of 8000. It also has presence in China (1200 people), Mexico (250 employees) and North America.
Read more in the Business Standard article.
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