Philippines-based SPi Global, a leading full-service global BPO provider has acquired Chennai-based publishing BPO company, Laserwords, a part of Murugappa Group..Trilegal advised SPi with a team led by Bangalore-based Partner Kosturi Ghosh..AZB &Partners advised their longstanding client Muruguppa with a team led by Partner Anind Thomas..Laserwords, in which group company Carborundum Universal holds 44 per cent stake, was sold at a valuation of Rs. 114 crore ($23.2 million). Carborundum Universal, in which private equity firm Nalanda Capital holds 9 percent stake, has sold its stake for Rs. 50 crore ($10.1 million), according to VCCircle..SPi has bought Laserwords to expand its content solutions business and gain better foothold in the education sector..Laserwords, founded in 1983 offers end to end solutions for print and media production services to leading publishers of school, higher education, academic, as well as professional and trade publications. Laserwords has two production facilities in Chennai, India, and full-service production teams in the US at Maine, Madison and New York. Laserwords’ clients includes Amazon, Scholastic, Pearson among others, according to Dealcurry..SPi Global is a full-service BPO provider with offices and facilities in 24 locations across North America, Europe, Australia, and Asia. It has over 15,000 employees delivering a range of solutions in knowledge process outsourcing and customer relationship management..In June, Hyderabad-based Coromandel International Ltd (CIL), part of Murugappa group of Chennai, had acquired the entire 42.2 per cent promoters’ stake in Sabero Organics Gujarat Limited, a Mumbai-based agrochemical manufacturer for Rs. 250 crore (approximately $ 50 million) in an all cash deal..Murugappa was advised by AZB while Khaitan & Co. advised Sabero..Follow Bar and Bench channel on WhatsAppDownload the Bar and Bench Mobile app for instant access to the latest legal news.
