 "HCL To Acquire Control Point Solutions")
HCL Technologies has announced the signing of an agreement to fully acquire Control Point Solutions, a provider of voice, data and wireless Telecommunications Expense Management (TEM) services. Privately held, Control Point Solutions (CPS) enjoys a strong position in the TEM market with robust platforms catering to both enterprises and carriers across industry verticals. As part of the transaction, HCL will acquire four delivery centres in US with over 200 professionals, who come to HCL with domain knowledge and technical expertise. Control Point Solutions is being acquired at an enterprise valuation of $20.8 million.
This acquisition strengthens HCL’s advantage of providing multi-service delivery platforms to customers with CPS’ TEM expertise complementing HCL’s remote infrastructure service offering.
Ranjit Narasimhan, president and CEO, BPO Services, HCL Technologies, said, “The strategic acquisition of Control Point Solutions is in line with HCL BPO’s goal to make strategic, platform-based acquisitions, which give us sustainable competitive advantage in chosen verticals. This acquisition enhances HCL’s ability to become an end-to-end provider of business process outsourcing services in the attractive TEM space. HCL will leverage its existing experience in TEM to further diversify into other geographies and newer areas like utilities, freight, to name a few.”
Bob McMullan, CEO of Control Point Solutions said, “Over the last year, Control Point Solutions has invested in delivering advanced technologies and building new data and service centres. Our decision to join HCL is yet another strategic move aimed at advancing our position in the marketplace. HCL is well capitalised with a far-reaching global infrastructure, offering new channels that will enable Control Point Solutions to focus on and grow its core BPO business in both the enterprise and carrier segments. HCL Technologies will also facilitate Control Point Solutions’ push to offer additional services to our current client base and enhance its current platform.”