The Hindu Business Line : TH Lee eyes more acquisitions in India

HAVING acquired a majority interest in SPI Technologies Inc recently, TH Lee Putnam Ventures has identified India as one of its key component for the company's growth strategy. While TH Lee is a technology focussed private equity firm, SPI is a cross border outsourcing vendor specialising in content outsourcing services with 18 offices spread across the US, Europe and Asia.

Although a India-specific fund has not been setup, the TH Lee Managing Director, Mr Ramanan Raghavendran, has chalked out plans for further acquisitions in India. The company has earmarked investments to the tune of $120 million in India.

"Of this we have already invested 70 per cent and the remaining 30 per cent has been reserved for acquisitions," he said.

Last year, SPI acquired Kolam Information Services located in Pondicherry enabling the outsourcing vendor to build up a 750 strong employee base here that includes its facility at Kolkata.

The company's three-pronged strategy for the Indian sub-continent comprises a rollout of the Indian operations by "adding substantial amount of people', building a senior management team at India which would also look at acquisitions and creating greater visibility of the SPI brand in an effort to attract `better talent (from India)'.

More Stories on : Mergers & Acquisitions | Outsourcing

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