HCL Technologies (HCL), India’s leading global IT services provider, is in the process of signing of an agreement to fully acquire Control Point Solutions, the leading provider of voice, data and wireless Telecommunications Expense Management (TEM) services. Privately held, Control Point Solutions (CPS) leads the TEM market with robust platforms catering to both enterprises and carriers across industry verticals. As part of the transaction, HCL will acquire four delivery centers in the U.S. with over 200 professionals who come to HCL with domain knowledge and technical expertise.

Control Point Solutions is being acquired at an enterprise valuation of $20.8 million. This valuation is on cash free and debt free basis. “The strategic acquisition of Control Point Solutions is in line with HCL BPO’s goal to make strategic, platform-based acquisitions which give us sustainable competitive advantage in chosen verticals. This acquisition enhances HCL’s ability to become an end-to-end provider of business process outsourcing services in the attractive TEM space. With this acquisition, HCL becomes the first business process service provider to enter this market. HCL will leverage its existing experience in TEM to further diversify into other geographies and newer areas like utilities, freight, to name a few. We are delighted to welcome the high quality staff of CPS into the HCL family, and we look to the continued leadership and caliber of its executive team to take TEM to the next generation,” commented Mr. Ranjit Narasimhan, President and CEO- BPO Services of HCL Technologies, on the acquisition

"Over the last year, Control Point Solutions has invested in delivering the most advanced technologies, building new data and service centers, and elevating our customer service to become a leader across the industry. Our decision to join HCL is yet another strategic move aimed at advancing our position in the marketplace. HCL is well capitalized with a far-reaching global infrastructure, offering new channels that will enable Control Point Solutions to focus on and grow its core BPO business in both the enterprise and carrier segments. HCL Technologies will also facilitate Control Point Solutions’ push to offer additional services to our current client base and enhance its current platform,” said Bob McMullan, CEO of Control Point Solutions.

“This acquisition will further enhance HCL’s presence in F&A BPO space. We are confident of delivering incremental shareholder value through our Acquisitions,” adds Anil Chanana, Executive Vice President- Finance of HCL Technologies.

Langham Capital Limited acted as financial advisers to HCL in the transaction. The acquisition is
subject to fulfillment of certain closing conditions.


Email | Print | Comment | Bookmark and Share