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New Delhi-based Vision Plus Security Control, a mid-sized Technology Services and BPO company, in partnership with Ajay Guliya, a BPO industry veteran, has acquired 59 per cent stake in CPG BPM.
CPG, formerly known as ISSL CPG BPO Private Limited, provides business process management and back-office services to clients in the BFSI & Telecom sectors. In 2010, IL&FS had acquired this stake in ISSL CPG.
It employs around 450 people, and its services include non-voice outsourcing services with specialisation in document management, specifically KYC processing and transaction processing.
Earlier this stake was held by IL&FS, acquired by them in 2010. The transaction was done through National Company Law Tribunal (NCLT) proceedings. The founder promoters of the company still hold the remaining stake.
Vishal Goel, Director, Vision Plus said, "We are excited with this partnership as it has huge synergies with our existing businesses and forays our entry into BFSI space.”
Guliya added that this is a value accretive partnership and provides the company with capabilities in the Back Office services. "It would help us to not only expand our service portfolio with existing clients but also to acquire new clients globally," he said.
Staava Capital was an advisor to Vision Plus for this transaction.
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