Langham Capital advises HCL Technologies on first telecom expense management acquisition by a BPO company
15th September 2008
We are pleased to announce that India’s fifth largest IT services company, HCL Technologies Limited, has acquired Control Point Solutions, Inc., a leading provider of telecom expense management (TEM) services in an all-cash deal valued at $20.8 million. Langham Capital acted as exclusive financial advisor to HCL Technologies.
This acquisition marks the latest step in HCL’s strategy to seek non-linear growth opportunities in targeted sectors and competencies. This acquisition strengthens HCL’s multi-service delivery platform capabilities and complements its remote infrastructure service offerings. As part of the transaction, HCL will acquire four delivery centres in US with over 200 professionals who join HCL with domain knowledge and technical expertise.
Privately held Control Point Solutions is a market leader in the TEM industry. Its internally developed platforms cater to both enterprises and carriers across industry verticals. Customers include Fortune 500 organisations across a broad variety of industries. For nearly two decades, Control Point Solutions has managed the entire telecom expense life cycle for clients, providing industry-leading solutions for their voice, data and wireless requirements.
Ranjit Narasimhan, President and CEO, BPO Services, HCL Technologies, said, "The strategic acquisition of Control Point Solutions is in line with HCL BPO's goal to make strategic, platform-based acquisitions which give us sustainable competitive advantage in our chosen verticals. This acquisition enhances HCL's ability to become an end-to-end provider of business process outsourcing services in the attractive TEM space. With this acquisition, HCL becomes the first business process service provider to enter this market. HCL will leverage its existing experience in TEM to further diversify into other geographies and newer areas like utilities and freight, to name a few."
Bob McMullan, CEO of Control Point Solutions Inc., said, "Over the past years, Control Point Solutions has invested in delivering the most advanced technologies, building new data and service centres and elevating our customer service to become a leader across the industry. HCL Technologies will also facilitate Control Point Solutions' push to offer additional services to our current client base and enhance its current platform."
