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News Roundup: Everstone, Advent, TPG eye stake in Servion Global

By TEAM VCC

  • 12 Feb 2014

Three global private equity funds TPG Capital, Advent International and Everstone Capital are in talks with promoters of Servion Global Solutions to purchase a significant minority stake in the Chennai-based enterprise customer interaction management provider, three people with direct knowledge of the development said. PE fund Sansar Capital Management-backed Servion, which helps companies to effectively manage interaction with its customers using an enterprise software application, is now valued at $125 million (Rs 750 crore). Sansar Capital, which invested $6.7 million, has now exited the company. The promoters of the company are looking at various options, including a complete sale and has appointed investment bank Avendus Capital," an investment banker with knowledge of the development said. (Economic Times)

Gurgaon-based Knowlarity looks to raise $15 million to fund overseas business: Knowlarity Communications, the Gurgaon-based cloud telephony venture , has entered into discussions with three venture capital firms, as it looks to raise about $15 million (INR 93 crore) to fund its overseas expansion and acquisitions. The company, which is backed by marquee venture capital firm Sequoia Capital, is looking at a pre-money valuation, ranging between $25 million (INR 156 crore) and $35 million (INR 218 crore). Investment bank Signal Hill has been appointed to run the mandate. The proceeds would be used towards expanding our presence in South-East Asia, Middle East and Latin America. (Economic Times)

Courtesy: VCCEdge

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