Speed Post News Network
New Delhi : The Competition Commission of India (CCI) has approved 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 focus on private equity investments in Asia. BPEA and its affiliates currently inter alia hold investments in various entities engaged in 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 engaged in communications, media, 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, according to a PIB release.
The proposed combination, notified under Sections 5(a) of the Competition Act, 2002, concerns the proposed acquisition of up to entire issued share capital of GCAPH from its existing shareholders.