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eClerx Services has acquired CLX Europe SPA, a closely-held Italian media content management company, for a total of €25 million (₹168 crore).
The Indian company will acquire CLX through its UK-based subsidiary. The acquisition will be an all cash deal, which would be funded from eClerx's internal resources. The management team of CLX will continue to manage day-to-day operations, eClerx Services, a knowledge process outsourcing company, said in a statement. The acquisition will help eClerx gain a strong foothold in the European media industry, diversify revenue base by adding leading luxury brands as clients. Avendus Capital was the financial advisor to eClerx Services on this transaction.
“eClerx’s acquisition of CLX further strengthens its positioning and capabilities to service enterprises' rapidly increasing focus on digital content creation, management and delivery, which in turn is being driven by the increasing pervasiveness of digital commerce,” said Puneet Shivam, Executive Director, Co-Head (Business Process Outsourcing Group) at Avendus.
With four delivery centers across Italy, the UK, Germany and Thailand, CLX caters to marquee clientele comprising luxury brands, retailers, e-tailers and publishers.
The acquisition is subject to regulatory approvals and customary closing conditions.
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