(Bloomberg) -- iEnergizer Ltd., the digital content and business process outsourcing company, said it's launching a formal sale process after receiving private equity takeover interest.ย
The London-listed company, which has been exploring strategic options, concluded it would be โappropriateโ to investigate a sale of the company, it said in a statement Monday. iEnergizer plans to review potential buyers who will enable the company to prosper long-term while maximizing value for all stakeholders, according to the statement.ย
Barclays Plc, JPMorgan Chase & Co. and Arden Partners are advising iEnergizer on the sale, it said. The company announced last week it had received an approach from Baring Private Equity Asia and was conducting a strategic review, following a Bloomberg News report that it was gauging interest from potential buyers.ย
The buyout firm plans to participate in the formal sale process and will no longer be bound by a regulatory deadline to announce firm plans for a bid by July 7, iEnergizer said in Monday's statement. Shares of Guernsey-based iEnergizer have risen 27% this year, giving the company a market value of about ยฃ780 million ($946 billion).ย
iEnergizer offers customer management and custom content development services. Anil Aggarwal, the firm's founder and chief executive officer, is the controlling shareholder, according to its annual report.ย
Founded in 2000 in India, iEnergizer employs more than 22,000 people across nine delivery centers worldwide. Its customers are based primarily in the US and India, the annual report shows. iEnergizer acquired content production and digital media firm Aptara Inc. in 2012 for $150 million.
Outsourcing firms have benefited from the digitization that accelerated during the Covid-19 pandemic, driving a wave of deals. Mindtree Ltd. and Larsen & Toubro Infotech Ltd., two software firms controlled by Larsen & Toubro Ltd., agreed to merge last month at a combined $18 billion market value.ย
More stories like this are available on bloomberg.com
ยฉ2022 Bloomberg L.P.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories โ On NDTV Profit.
