10/18/2021 | Press release | Distributed by Public on 10/18/2021 07:32
The Competition Commission of India (CCI) approves the acquisition of Global Content Alpha Partners Holdco Pte. Ltd. (GCAPH) by Starnmeer B.V. (Starnmeer) under Section 31(1) of the Competition Act, 2002.
Starnmeer, a recently incorporated entity, is ultimately owned and controlled by funds comprising the Baring Asia Private Equity Fund VII, a fund affiliated with Baring Private Equity Asia Pte. Ltd. (BPEA). BPEA is an international private equity firm with a focus on private equity investments in Asia. BPEA and its affiliates currently inter alia hold investments in various entities that are engaged in the provision of Information Technology (IT) and IT enabled services (ITeS) in India (Portfolio Entities).
GCAPH is engaged in the provision of services within the IT & ITeS sector (more specifically Business Processing Outsourcing (BPO)services) and caters to customers that are engaged in the communications, media, and services sector and the education sector. In India, GCAPH is present through its subsidiaries namely, LearningMate Solutions Private Limited, SPI Technologies India Private Limited, Scope e-Knowledge Center Private Limited, and Scientific Publishing Services Private Limited.
The Proposed Combination, notified under Sections 5(a) of the Competition Act, 2002, concerns the proposed acquisition of up to the entire issued share capital of GCAPH from its existing shareholders.
A detailed order of the CCI will follow.