Everstone Capital and Solmark to Acquire a Majority Stake in Servion Global Solutions for INR4 billion (Asia)

Source: VCCircle | Author(s): Bhawna Gupta

India-focused private equity firm Everstone Capital and United States-based equity fund Solmark have signed an agreement with India-based customer management service provider Servion Global Solutions to acquire a controlling stake in Servion for INR4 billion (approximately US$65 million). The transaction will be structured through Evertech, Everstone Group’s technology investment platform, and will provide an exit to most of the existing financial investors. Previous backers of the company include asset management firm Sansar Capital and multinational networking company Cisco. Servion offers consulting, hosted and managed services, product engineering and professional services.