On August 08, 2018, CCI approved the proposed acquisition of 100% of equity shares of Intelenet BPO Holdings Private Limited and Intelenet Global Services Private Limited (collectively, ‘Targets’) by Dutch Contact Centres B.V (‘DCC’/’Acquirer’). The proposed acquisition contemplates acquisition of shares in the Targets, both directly and indirectly, i.e. through the Acquirer’s wholly owned subsidiary, Teleperformance Services India Private Limited. The Acquirer will also acquire group debentures and group loans of the Targets.
The Acquirer is engaged in the business of providing information technology and information technology enabled services, particularly, business process outsourcing (‘BPO’) services. The Targets are also engaged in the same business.
CCI identified overlaps in the market for provision of (a) information technology and information technology enabled services; and (b) BPO services. However, as the market shares of the parties were insignificant in both markets, the relevant market was left open. CCI concluded that the proposed combination will not result in an AAEC and thus, approved the transaction.