Warburg Pincus leads race for Brookfield BPO

economictimes.indiatimes.com:

Warburg Pincus is in advanced negotiations with Canadian investor Brookfield Asset Management Inc. to acquire Everise Holdings, a Delaware-registered outsourcing company, said three people aware of the development. The deal is expected to value Everise at $1.2-1.3 billion, they said.

Warburg is competing with other investors such as BPEA EQT-backed Sagility and Veritas Capital, they added. If completed, the buyout will be the largest in India by Warburg Pincus, the fund that started the private equity rush in the country with its successful investment in Bharti Airtel. However, no exclusivity has been signed between the two parties.

ET first reported on May 29 on Warburg Pincus' interest in Everise. In 2016, private equity fund Everstone had partnered with Sunrise BPO to launch Everise and expanded the business through multiple buyouts.$500m Revenue Expected in CY23 Brookfield acquired Everise from Everstone in 2020 in a deal worth $450 million. After the transaction, Sunrise BPO co-founder and CEO Sudhir Agarwal became a minority stakeholder in Everise.

Everise is domiciled in Singapore and has its management team and headquarters in the US. It's a global provider of technology-enabled, omnichannel customer management services to healthcare and other fast-growth technology business in travel and hospitality, media and communications, financial services, and logistics and supply chain. Most of its business is healthcare centric.

It combines customer and technical support, health insurance, AI-enabled services, robotic process automation, analytics and secure cloud-based technology services. The BPO had 16,253 employees at the end of December, proficient in 32 languages operating in eight countries. Its global centres are