Actis invests $50 million in Ayala's Integreon
Emerging markets investor Actis has invested $50 million for an undisclosed but reportedly 25-30% stake in Integreon, a business process outsourcing company majority-invested by Philippines conglomerate Ayala Corp.
Integreon specializes in legal and knowledge services BPO, and apparently was in discussions with at least one other private equity firm before settling on Actis. JM Trivedi, Actis head of South Asia, and Gautham Radhakrishnan, director at Actis, will join the Integreon board. "Integreon represents a best in class investment in this sector," said Paul Fletcher, Senior Partner at Actis. "Leading international corporations, financial institutions and law firms harness the specialist knowledge capabilities of the emerging markets."
Despite its Philippines origins, the company apparently employs around 1200 of its c.2000 staff in India. Integreon stated that it plans to use the proceeds to broaden its service and technology range, with new service centers, and consider strategic M&A opportunities. Ayala reportedly owns a majority stake in Integreon through its LiveIt Investments BPO arm.
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