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Carlyle preferred bidder for Baring PE's Hexaware in $3 bn deal: Report

Hexaware provides automation, cloud and customer services-related technology to a wide range of industries including finance, education, hospitality and manufacturing.

Topics
Carlyle Group | Baring PE | Hexaware

Reuters  |  HONG KONG 



Carlyle Group
The logo of the Carlyle Group is displayed at the company's office in Tokyo, Japan | REUTERS/Issei Kato

Global private equity firm has emerged as the preferred bidder for Baring Private Equity Asia's (BPEA) Indian portfolio Technologies in a $3 billion deal, two people with knowledge of the situation said.

If successful, Carlyle would be winning a competitive bidding process against peer firms including KKR & Co and Bain Capital, as well as French company Teleperformance SE for the Mumbai-headquartered IT services firm.

Hong Kong-based BPEA, and a Carlyle spokesman declined to comment.

BPEA bought a controlling stake in in 2013 for about $420 million and took the company private from the local stock exchanges late last year.

Hexaware provides automation, cloud and customer services-related technology to a wide range of industries including finance, education, hospitality and manufacturing.

With 37 offices in more than 30 countries, the company's revenue grew 6.5% year on year in 2020 to $845 million in U.S. dollar terms, according to its annual report.

Its earnings before interest, taxes, depreciation and amortisation (EBITDA) grew 24.4% to 11 billion rupees in 2020.

 

(Reporting by Kane Wu; Additional reporting by Rama Venkat in Bengaluru; Editing by Edmund Blair)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)


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First Published: Mon, August 30 2021. 17:40 IST

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