Warburg Pincus-backed Vivtera, a business process management (BPM) firm, has acquired Arise Virtual Solutions Inc., which is owned by PE firm Strait Lane Capital Partners.
Viraj Sawhney, managing director at Warburg Pincus, said this is an opportunity to significantly scale this platform and further enhance the value proposition and differentiation of Arise.
Scott Etheridge, CEO at Arise, said the move will help the firm accelerate the rate of delivering digital solutions.
The financial details of the transaction couldn’t be ascertained. Evercore Inc. served as the financial advisor to Warburg Pincus and Vivtera.
This is Vivtera’s first deal after it was formed in 2018 when Warburg Pincus said it would back executives Mohit Thukral, Gaurav Sethi and Harpreet Duggal in setting up a BPO platform. At that point, the PE firm said it would look at committing up to a billion dollars in acquiring companies in the segment.
Arise Virtual, which was founded in 1994, is an on-demand customer management business process management solutions provider. It offers a customer management platform and product support services across North America and the United Kingdom.
The firm provides clients with access to support services through a virtual network that connects primarily work-at-home service partners to companies needing all types of business process management services, with primary focus in the customer experience industry.
Warburg Pincus has also been funding professionals to build investment platforms in India.
In 2017, it said it would invest $300 million in Princeton Growth Ventures, a platform to acquire assets in the telecommunications, media and technology sectors started by former Tata Communications Ltd executive Rangu Salgame.
Warburg also has a joint venture with the Embassy group for developing industrial parks in India.