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News Roundup: Everstone, Advent, TPG eye stake in Servion Global

12 February, 2014

Three global private equity funds TPG Capital, Advent International and Everstone Capital are in talks with promoters of Servion Global Solutions to purchase a significant minority stake in the Chennai-based enterprise customer interaction management provider, three people with direct knowledge of the development said. PE fund Sansar Capital Management-backed Servion, which helps companies to effectively manage interaction with its customers using an enterprise software application, is now valued at $125 million (Rs 750 crore). Sansar Capital, which invested $6.7 million, has now exited the company. The promoters of the company are looking at various options, including a complete sale and has appointed investment bank Avendus Capital,” an investment banker with knowledge of the development said. (Economic Times)

Gurgaon-based Knowlarity looks to raise $15 million to fund overseas business: Knowlarity Communications, the Gurgaon-based cloud telephony venture , has entered into discussions with three venture capital firms, as it looks to raise about $15 million (INR 93 crore) to fund its overseas expansion and acquisitions. The company, which is backed by marquee venture capital firm Sequoia Capital, is looking at a pre-money valuation, ranging between $25 million (INR 156 crore) and $35 million (INR 218 crore). Investment bank Signal Hill has been appointed to run the mandate. The proceeds would be used towards expanding our presence in South-East Asia, Middle East and Latin America. (Economic Times)

Courtesy: VCCEdge


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News Roundup: Everstone, Advent, TPG eye stake in Servion Global

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