MANILA, Philippines - SPi Global, a wholly owned subsidiary of Philippine Long Distance Telephone Co. (PLDT), on Friday night announced it has acquired a business process outsourcing (BPO) firm in India.
President and Chief Executive Officer Maulik Parekh said his company acquired Laserwords Private Ltd. from India’s Murugappa Group. The acquisition price was not disclosed. Avendus Capital Inc. served as the exclusive financial advisor to SPi Global for this transaction.
Laserwords is one of the pioneers and most successful publishing BPO companies in India. Parekh, in a statement, said this acquisition will expand the depth and breadth of the company’s content solution business that is hard to rival in the industry. “With the combined strength of two leaders in the global publishing space, our clients will get unmatched and an even more comprehensive suite of solutions for print, electronic and database products.”
SPi Global is the largest Filipino-owned BPO company. It has been in the content solutions business for more than 30 years and has been awarded the No. 1 print and publishing outsourcing vendor by the Black Book of Outsourcing.
Parekh said like SPi Global, Laserwords enjoys a long track record in the industry.? Founded in 1983, it is a well-known and successful outsourcing partner for some of the world’s leading educational, academic, and professional publishers. Laserwords has production facilities spread over India and the United States and provides a range of solutions that include production, editorial, multimedia, conversion and technology.
“This strategic acquisition will complement SPi Global’s strong presence in the scientific, technical, medical and legal verticals with Laserwords’ established foothold in the Education sector.? We expect that this will expand and deepen our engagements with existing clients and also attract prospective clients,” Parekh added.
Earlier this year, SPi Global has been named “BPO Company of the Year” in the International ICT Awards. It has also bested other foreign BPO companies in Vietnam to win The Sao Khue 2011 Prize for the best BPO service in the BPO services category, recognizing SPi Global’s excellent BPO solutions.
The company has also ranked among the top 100 outsourcing service providers in the world by the International Association of Outsourcing Professionals’ Global Outsourcing 100 list. This is the sixth consecutive year that SPi Global was included in this listing.