Indian Economy News

eClerx to acquire Italian firm CLX for €25 million

  • Livemint" target="_blank">Livemint
  • April 1, 2015

Mumbai: Knowledge and business process outsourcing services provider eClerx Services Ltd on Tuesday said that it has agreed to buy CLX Europe SpA, an Italian media content management company, for €25 million.

EClerx will acquire CLX through its UK-based subsidiary.

CLX is a niche digital services firm engaged in creative asset creation, management and delivery to support the marketing, communication and branding of companies and their products, the firm said in the filing. It has four delivery centres across Italy, the UK, Germany and Thailand, and caters to a clientele comprising luxury brands, retailers, e-tailers and publishers.

“With this acquisition, eClerx gains a strong foothold in the European media industry, diversifies its revenue base by adding leading luxury brands as clients and brings on board strong delivery teams with attractive talent pool and cost structures,” the firm said.

The acquisition is an all-cash deal to be funded from eClerx’s internal resources.

“eClerx’s acquisition of CLX further strengthens its positioning and capabilities to service enterprises’ rapidly increasing focus on digital content creation, management and delivery, which in turn is being driven by the increasing pervasiveness of digital commerce,” said Puneet Shivam, executive director, co-head business process outsourcing group, Avendus Capital Inc.

Avendus Capital Pvt. Ltd advised eClerx on the transaction.

Shares of eClerx fell 1.33% to Rs.1,589.75 on the BSE, while the benchmark Sensex shed 0.07% to 27,957.49 points.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.