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Our Bureau

New Delhi , Jan. 17

UK-based business process outsourcing firm Vertex, a subsidiary of United Utilities, has been acquired by a consortium of US-based private equity firms led by Oak Hill Capital Partners.

The estimated value of the deal is £217.5 million, which entails cash, the repayment of intra-group debt and retention of certain liabilities of Vertex by the purchaser.

The deal is expected to be completed by the end of March 2007. Vertex India has 1,800 employees at its Gurgaon operations.

"We are positive that Vertex will benefit from the investment that Oak Hill brings as they are experienced in developing businesses in the BPO market in India.

"This really is an exciting opportunity to take our business forward," said Mr Ashish Taneja, Chief Executive Officer, Vertex India.

More Stories on : Outsourcing | Venture Capital

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