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The Carlyle Group has acquired a 54.85 per cent stake in Chennai-based Newgen KnowledgeWorks Pvt Ltd, a provider of publishing and technical services for $32.8 million.
Equity for the transaction comes from First Carlyle Ventures III, an investment fund advised by The Carlyle Group, it said in a statement.
Carlyle has acquired the stake held by Franklin Templeton Private Equity Strategy, Aureos South Asia Fund and ePlanet Capital in Newgen. Carlyle had earlier invested in Newgen in 2004 and exited its investment in 2011.
Prabhakar Ram, Founder & CEO of Newgen said: “Newgen has emerged as a preferred service provider for its clients due to its high service quality, efficiency and focus on automation. We are extremely happy to partner with Carlyle again, which engaged in numerous value creation activities and acted as a catalyst in the growth of the company during its previous stint with Newgen.”
Since 2000, Carlyle had invested about $1.1 billion of equity through 30 transactions in India as of September 30, 2014.
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