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Private equity giant Baring Asia<\/a>, which owns the software firm Hexaware<\/a> Technologies, is set to pick the $3 billion offer from the Carlyle Group<\/a> for the city-based company, according to a person with direct knowledge of the matter. The Carlyle<\/a> Group - the Washington-based multinational private equity, alternative asset management and financial services giant with over $260 billion in assets under management and specialising in private equity, real assets, and private credit - is set to pip bulge-bracket private equity giants such as Bain Capital, KKR & Co and the Paris-based outsourcer Teleperformance and is most likely to be the winner with around $3 billion bid.
All these bidders had submitted binding bids by mid-August. If the deal is materialised it will be the biggest deal in the domestic software services space.
\"Baring is set to go with the Carlyle Group's $3 billion bid, as it's much higher than the other bids which are around $2.5 billion only,\" one of the investment bankers negotiating the deal and advising the sell-side told PTI on condition of anonymity, as the matter is private and yet to be completed.
The deal will be closed very soon, he added.
A Hexaware spokesperson refused to comment saying the matter is private.
A reply to an email sent to the Carlyle Asia headquarters Saturday is awaited.
It can be noted that the IT\/BPO segment has already seen two big deal announcements in 2021. To unlock value for shareholders, Hinduja Global Solutions, the BPO arm of the Hinduja Group, had early this month announced sale of its healthcare services business to Barings Private Equity Asia for an enterprise value of $1.2 billion.
In late April, American PE giant Blackstone had committed to pump in an additional $2.8 billion to acquire a controlling stake in Mphasis along with Abu Dhabi Investment Authority, UC Investments and other long-term investors as co-investors.
Atul K Nishar, the founder and chairman, had launched Hexaware in 1990 in Mumbai and in 2013, sold majority stake to Baring PE Asia for Rs 1,687 crore with an open offer for another 26 per cent for another Rs 1,058 crore, totalling the deal at Rs 2,745 crore, and later fully exited the company but remains the chairman. By November, Baring picked 100 per cent in the company.
The deal with the Hong Kong-based Baring Private Equity Asia involved the promoters Atul Nishar (27.7 per cent stake) and GA Global Investments (14.1 per cent) selling their 41.8 per cent stake for Rs 1,687 crore and then the PE fund making make an open offer to pick up 26 per cent stake at Rs 135 per share or worth Rs 1,058 crore, making it the largest investment by Baring in the country.
After taking Hexaware private in November 2020, in late April this year, Baring put the company on the block.
Under the leadership of Nishar, Hexaware has grown into a multi-million dollar global software and BPO services corporation and was a publicly traded company.
An entrepreneur by nature, Nishar founded Aptech, a computer training company, in 1985 and grew it into a leading global IT training outfit with over 2,400 centres across 52 countries.
Late last month Baring had shortlisted from around 10 bids Carlyle, KKR, Bain and the French Teleperformance for Hexaware, whic provides automation, cloud and customer services-related technology to a wide range of industries, including finance, education, hospitality and manufacturing.
With 37 offices in over 30 countries and over 20,000 employees, its revenue grew 6.5 per cent in 2020 to $845 million, while operating profit jumped 24.4 per cent to $152 million.
Carlyle had earlier unsuccessfully pursued Mphasis, which finally went to Blackstone but fell through over a valuation mismatch.
Carlyle was very active in the country over the past 18 months, sewing up deals with the Piramal group, Bharti Airtel<\/a>'s data centre business, PNB Housing Finance and Sequent Scientific<\/a>.
The Indian portfolio of Barings Asia includes firms such as Virtusa, Citius Tech, Coforge (erstwhile NIIT Technologies), CMS, AGS Health and RBS Bank.<\/body>","next_sibling":[{"msid":85736329,"title":"Airtel to raise Rs 21,000 crore via rights issue","entity_type":"ARTICLE","link":"\/news\/airtel-to-raise-rs-21000-crore-via-rights-issue\/85736329","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[],"msid":85736632,"entity_type":"ARTICLE","title":"Baring Asia set to accept $3 billion Carlyle offer for Hexaware","synopsis":"If the deal is materialised it will be the biggest deal in the domestic software services space.","titleseo":"telecomnews\/baring-asia-set-to-accept-3-billion-carlyle-offer-for-hexaware","status":"ACTIVE","authors":[],"analytics":{"comments":0,"views":426,"shares":0,"engagementtimems":1618000},"Alttitle":{"minfo":""},"artag":"PTI","artdate":"2021-08-29 16:37:40","lastupd":"2021-08-29 16:44:33","breadcrumbTags":["hexaware","baring asia","carlyle","Carlyle Group","enterprise services","pnb housing finance and sequent scientific","bharti airtel"],"secinfo":{"seolocation":"telecomnews\/baring-asia-set-to-accept-3-billion-carlyle-offer-for-hexaware"}}" data-authors="[" "]" data-category-name="" data-category_id="" data-date="2021-08-29" data-index="article_1">
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私人股本巨头霸菱亚洲拥有软件公司Hexaware技术,将选择的出价30亿美元凯雷集团(Carlyle Group)对该公司而言,一个人有直接了解的人士称。的凯雷(Carlyle)集团——总部位于华盛顿的跨国私人股本,另类资产管理和金融服务巨头管理着逾2600亿美元资产,专注于私募股权、实物资产,和私人信贷——设置为pip等大型私人股本巨头贝恩资本(Bain Capital)、KKR & Co .)和总部位于巴黎的外包商Teleperformance和最有可能成为赢家出价30亿美元左右。
所有这些竞购者在8月中旬提交绑定的报价。如果交易成为现实将会是最大的交易在国内软件服务空间。
“霸菱设置与凯雷集团(Carlyle Group)的30亿美元收购,因为它是远高于其他报价约为25亿美元,”一个投资银行家谈判交易,建议卖方告诉PTI在匿名的情况下,问题是私人和尚未完成。
这笔交易将很快关闭,他补充说。
Hexaware发言人拒绝置评说这件事是私有的。
回复一个电子邮件发送给凯雷亚洲总部星期六是等待。
它可以指出它/ BPO段已经看到两大交易公告2021年。解锁价值为股东,Hinduja全球解决方案,Hinduja集团的业务流程外包部门本月初宣布其医疗服务业务出售给霸菱亚洲私人股本企业价值为12亿美元。
4月下旬,美国体育巨头百仕通致力于泵额外的28亿美元收购控股权Mphasis阿布扎比投资局(Abu Dhabi Investment Authority)、加州大学等长期投资者共同投资者的投资。
Atul K取得的创始人和主席,在1990年推出Hexaware在孟买2013年,多数股权卖给霸菱亚洲体育以开放的提供1687卢比的另外26% 1058卢比,交易总额在2745卢比,后来完全退出公司,但仍然是董事长。在11月,霸菱公司的100%。
霸菱亚洲私人股本与香港的交易涉及发起人Atul取得(27.7%的股份)和GA全球投资(14.1%)出售41.8%的股份为1687卢比,然后PE基金让使开放提供26%的股份以每股135卢比或价值1058卢比,这使得最大的霸菱投资的国家。
在Hexaware私人2020年11月,在今年4月下旬,霸菱把公司。
的领导下取得Hexaware已经发展成为一个数百万美元的全球软件和业务流程外包服务公司和上市公司。
天生的企业家,取得成立了北大青鸟,计算机培训公司,1985年增长到超过2400的全球领先的it培训机构在52个国家中心。
上个月末霸菱从大约10投标入围凯雷,KKR,贝恩和法国Teleperformance Hexaware,制作提供了自动化、云计算和客户服务相关技术广泛的行业,包括金融、教育、酒店和制造业。
在30多个国家拥有37个办事处和20000多名员工,2020年营收增长6.5%至8.45亿美元,而营业利润上涨24.4%,至1.52亿美元。
凯雷曾Mphasis但以失败告终,最后去了百仕通(Blackstone)但告吹估值不匹配。
凯雷是非常活跃的国家在过去的18个月中,缝纫Piramal组处理,Bharti Airtel数据中心业务,PNB住房金融和后继科学。
霸菱亚洲的印度投资组合包括Virtusa等公司,高技术,Coforge(昔日NIIT技术)、CMS、AGS健康银行和苏格兰皇家银行。
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