Integreon buys Grail Research; eyes more
The company is in talks with private equity players to raise $100 million to fund acquisition.
Continuing its inorganic growth, Integreon, the back office outsourcing firm promoted by Philippines-based Ayala having a big presence in India, has acquired Grail Research for an undisclosed sum. Grail Research, a global strategic research and decision support firm, is a unit of US-based management consulting company, Monitor Group.
The acquisition strengthens its research and analytics portfolio and expands its global footprint to China and South Africa, said a company statement. The company is also in talks with private equity players to raise $100 million to fund acquisition. Integreon, owned 70% by Ayala, provides legal process outsourcing (LPO) and knowledge process outsourcing (KPO) services.
The company is in talks with a couple of global private equity players and expects to close the funding by March 2010. Reports suggest that the company is actively looking to acquire captive firms of research companies in financial services and legal services segments, and is targeting firms in Europe and Latin America.
Liam Brown, CEO of Integreon stated that the acquisition accelerates the expansion of company’s business intelligence, research and analytics business with high-end and custom market research. “We can now meet research requirements of our clients in investment banking, law firms and corporations on an enterprise basis,” added Brown.
Integreon provides a range of outsourced knowledge services globally with strong presence in India. It employs around 2,000 people, of which 1,200 are in India, and 500 each in the US and Philippines.
The company expects to achieve revenues of over $60 million this year. The acquisition of Grail Research is its sixth so far. Its earlier acquisitions include three LPO firms and two KPO firms. In May 2009, it acquired Onsite3, a leading provider of electronic evidence solutions for law firms and corporations. Earlier in 2008, it acquired Datum Legal Inc, a litigation support and electronic data discovery company in New York.
Integreon currently has around 100 clients in its portfolio comprising law firms, investment banks and corporations.
-- Copyright 2009 VCCircle.com. All rights reserved.
This content/article is provided by Mosaic Media Ventures Private Limited and not by Reuters. All rights, including copyright, in this content/article provided by VCCircle.com are owned or controlled by Mosaic Media Ventures Private Limited. The content may not be copied, broadcast, downloaded and stored (in any medium), transmitted, adapted or changed in any way whatsoever without the prior written permission of Mosaic Media Ventures Private Limited.
- Tweet this
- Share this
- Digg this
DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.
Trending On Reuters
The government made a push on Wednesday to bolster its strained finances, offering to sell a stake in miner Coal India and more mobile phone airwaves as it aimed to deliver on a promise to trim its fiscal deficit. Full Article