Vision Plus Acquires IL&FS Stake in CPG BPM
New Delhi, Delhi, India
Vision Plus Security Control Pvt. Ltd., a Delhi based mid-sized Technology Services and BPM company, in partnership with Mr. Ajay Guliya, a BPM industry veteran, has acquired nearly 59% stake in CPG BPM. CPG (formerly known as ISSL CPG BPO Private Limited) provides process management and back-office services to marquee clients in the BFSI & Telecom sector with a manpower of nearly 450 people.
Earlier this stake was held by IL&FS, acquired by them in 2010. The transaction was done through National Company Law Tribunal (NCLT) proceedings. The remaining stake is still held by the founder promoters of the company.
Speaking on the occasion, Mr. Vishal Goel, Director, Vision Plus said, “We are excited with this partnership as it has huge synergies with our existing businesses and forays our entry into BFSI space.”
And Mr. Ajay Guliya said, “This is a highly value accretive partnership for us, and provides us with unique capabilities in the Back Office. It would help us to not only expand our service portfolio with existing clients but also to acquire new clients globally.”
Commenting on the development, Ms. Latha Srinivasan, the whole-time director of CPG BPM said, “After 25 years of steering the firm into a growth stage we are truly excited to embark on a new, innovative and globally expansive phase as a result of this collaboration.”
Staava Capital was advisor to Vision Plus for this transaction.