Welcome!

News Feed Item

Minacs Announces the Completion of Acquisition

Aditya Birla Group Divests in Favor of Investor Group Led by CX Partners & Capital Square Partners

TORONTO, ONTARIO and BANGALORE, INDIA -- (Marketwired) -- 05/09/14 -- Minacs, a global business solutions company, today announced the completion of its acquisition by a reputable investor group led by the PE firm, CX Partners (CXP), and Capital Square Partners (CSP) a Singapore based investment holding company, from ABNL IT & ITeS Ltd., a wholly owned subsidiary of Aditya Birla Nuvo Ltd. (ABNL). Minacs had announced the transaction on January 30, 2014 in a media release. Post this transaction, Minacs will be majority-owned by CX Partners.

While the company's global entities will be held by a holding company being registered as The Minacs Group in Singapore, the business brand will continue to go to market as "Minacs."

On behalf of the new investors, Ajay Relan, Managing Partner of CX Advisors, advisor to CXP, said, "We see Minacs as an exciting asset, given its high-value capabilities, great clients, and heritage of long relationships with them. Driven by its DNA of operational excellence, it is today an acknowledged outsourcing services industry leader, known for its strong capabilities."

Sanjay Chakrabarty, Partner and Managing Director of CSP, said, "As strategic financial investors, we aim to provide the direction that will help Minacs accelerate and realize its full potential as a leading provider of customer experience, marketing and back office services. Minacs will drive a culture of innovation, flexibility and long-term customer relationships."

Aparup Sengupta of CSP, who is joining as the Executive Chairman of the Board, said, "Minacs has the ingredients of occupying a formidable and preeminent position in the customer experience value chain, which will be the foundation for growth for our Customers, Employees, and Shareholders. We are very excited to work with its outstanding management team to realize our shared growth ambitions for the company."

The Managing Director of Aditya Birla Nuvo, Dr. Rakesh Jain, said, "Our association with Minacs began in 2006, and goes back earlier with the Aditya Birla Group's entry into IT-ITeS as a sector. This relationship does not come to an end here, as our Group companies will continue to work with Minacs given its domain expertise and reputation as a globally respected business solutions provider."

With the completion of the acquisition, Minacs also announced that CEO Deepak Patel has moved on to pursue other career interests in the United States. He was CEO at Minacs since 2008. Deepak not only successfully consolidated Minacs' book of business and regional presence, but grew it to its status today as a respected global business solutions company. President and Chief Operating Officer, Anil Bhalla has taken over charge as CEO.

Anil Bhalla, the new CEO of Minacs, said, "We thank the Aditya Birla Group for its support, and Deepak for his leadership and contribution to Minacs' evolution. Taking it from here, I look forward to build on our strong culture of operational excellence and deep industry expertise, along with a renewed focus on technology innovation to deliver even stronger business results for our clients. With our new investors, we will accelerate our strategy to become a transformative partner totally aligned with the future roadmaps of our clients. I am energized by the tremendous opportunities that we see for Minacs as it realizes its true potential as a global leader in the services industry."

About Minacs
Minacs is an outsourcing and business solutions leader that partners with global corporations in the manufacturing, retail, telecom, technology, media and entertainment, banking, insurance, healthcare and public sectors. 21,000 Minacs experts across 34 centers worldwide deliver superior customer experience, marketing, and back office solutions to power business results for our clients.

Visit www.minacs.com to learn more about Minacs' solutions for global enterprises and their customers.

Safe Harbor
Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. We may, from time to time, make additional written and oral forward-looking statements, including statements contained in our filings with the regulators in India and to our reports to shareholders. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.

For more information, please contact:
Pooja Srivastava
Stephanie Long
[email protected]

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
"Infoblox does DNS, DHCP and IP address management for not only enterprise networks but cloud networks as well. Customers are looking for a single platform that can extend not only in their private enterprise environment but private cloud, public cloud, tracking all the IP space and everything that is going on in that environment," explained Steve Salo, Principal Systems Engineer at Infoblox, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Conventio...
Data scientists must access high-performance computing resources across a wide-area network. To achieve cloud-based HPC visualization, researchers must transfer datasets and visualization results efficiently. HPC clusters now compute GPU-accelerated visualization in the cloud cluster. To efficiently display results remotely, a high-performance, low-latency protocol transfers the display from the cluster to a remote desktop. Further, tools to easily mount remote datasets and efficiently transfer...
It is of utmost importance for the future success of WebRTC to ensure that interoperability is operational between web browsers and any WebRTC-compliant client. To be guaranteed as operational and effective, interoperability must be tested extensively by establishing WebRTC data and media connections between different web browsers running on different devices and operating systems. In his session at WebRTC Summit at @ThingsExpo, Dr. Alex Gouaillard, CEO and Founder of CoSMo Software, presented ...
In his session at 21st Cloud Expo, James Henry, Co-CEO/CTO of Calgary Scientific Inc., introduced you to the challenges, solutions and benefits of training AI systems to solve visual problems with an emphasis on improving AIs with continuous training in the field. He explored applications in several industries and discussed technologies that allow the deployment of advanced visualization solutions to the cloud.
Gemini is Yahoo’s native and search advertising platform. To ensure the quality of a complex distributed system that spans multiple products and components and across various desktop websites and mobile app and web experiences – both Yahoo owned and operated and third-party syndication (supply), with complex interaction with more than a billion users and numerous advertisers globally (demand) – it becomes imperative to automate a set of end-to-end tests 24x7 to detect bugs and regression. In th...
"NetApp is known as a data management leader but we do a lot more than just data management on-prem with the data centers of our customers. We're also big in the hybrid cloud," explained Wes Talbert, Principal Architect at NetApp, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"Space Monkey by Vivent Smart Home is a product that is a distributed cloud-based edge storage network. Vivent Smart Home, our parent company, is a smart home provider that places a lot of hard drives across homes in North America," explained JT Olds, Director of Engineering, and Brandon Crowfeather, Product Manager, at Vivint Smart Home, in this SYS-CON.tv interview at @ThingsExpo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"We work around really protecting the confidentiality of information, and by doing so we've developed implementations of encryption through a patented process that is known as superencipherment," explained Richard Blech, CEO of Secure Channels Inc., in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
High-velocity engineering teams are applying not only continuous delivery processes, but also lessons in experimentation from established leaders like Amazon, Netflix, and Facebook. These companies have made experimentation a foundation for their release processes, allowing them to try out major feature releases and redesigns within smaller groups before making them broadly available. In his session at 21st Cloud Expo, Brian Lucas, Senior Staff Engineer at Optimizely, discussed how by using ne...
Agile has finally jumped the technology shark, expanding outside the software world. Enterprises are now increasingly adopting Agile practices across their organizations in order to successfully navigate the disruptive waters that threaten to drown them. In our quest for establishing change as a core competency in our organizations, this business-centric notion of Agile is an essential component of Agile Digital Transformation. In the years since the publication of the Agile Manifesto, the conn...
While some developers care passionately about how data centers and clouds are architected, for most, it is only the end result that matters. To the majority of companies, technology exists to solve a business problem, and only delivers value when it is solving that problem. 2017 brings the mainstream adoption of containers for production workloads. In his session at 21st Cloud Expo, Ben McCormack, VP of Operations at Evernote, discussed how data centers of the future will be managed, how the p...
"Cloud Academy is an enterprise training platform for the cloud, specifically public clouds. We offer guided learning experiences on AWS, Azure, Google Cloud and all the surrounding methodologies and technologies that you need to know and your teams need to know in order to leverage the full benefits of the cloud," explained Alex Brower, VP of Marketing at Cloud Academy, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clar...
"MobiDev is a software development company and we do complex, custom software development for everybody from entrepreneurs to large enterprises," explained Alan Winters, U.S. Head of Business Development at MobiDev, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
SYS-CON Events announced today that CrowdReviews.com has been named “Media Sponsor” of SYS-CON's 22nd International Cloud Expo, which will take place on June 5–7, 2018, at the Javits Center in New York City, NY. CrowdReviews.com is a transparent online platform for determining which products and services are the best based on the opinion of the crowd. The crowd consists of Internet users that have experienced products and services first-hand and have an interest in letting other potential buye...
"There's plenty of bandwidth out there but it's never in the right place. So what Cedexis does is uses data to work out the best pathways to get data from the origin to the person who wants to get it," explained Simon Jones, Evangelist and Head of Marketing at Cedexis, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.