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Thomson Reuters to acquire LPO firm Pangea3

In yet another consolidation exercise, financial news and business information provider Thomson Reuters is all set to acquire legal process outsourcing firm Pangea3. The deal is expected to be formally announced in the next one or two days, said sources. The total deal value could be in the range of $35-40 million (around Rs 157-200 crore). This is the second acquisition by Thomson Reuters in India. Pangea3, founded by David Perla and Sanjay Kamlani, has private equity investment from The Glenrock Group and Sequoia Capital. The company is expected to have an annual revenue of $25-30 ...