HCL Acquires Telecom Solutions Provider
By CXOtoday Staff
Mumbai, 25 Aug 2008, 1809 hrs IST

HCL Technologies announced that it has signed a definitive agreement to acquire telecom solutions company -- Control Point Solutions, Inc. Control Point is a provider of voice, data and wireless Telecommunications Expense Management (TEM) services. Privately held, Control Point Solutions (CPS) leads 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 US$ 20.8 million.

According to a press release from the company, the acquisition will strengthen HCL's unique advantage of providing multi-service delivery platforms for its customers with CPS' TEM expertise complementing HCL's remote infrastructure service offering. Control Point Solutions is a market leader in the highly fragmented TEM industry with its internally developed robust platforms. Its technology has been a key differentiator that has demonstrated capability to support both the Enterprise and Carrier segments, the release added.

Commenting on the acquisition, Ranjit Narasimhan, president and CEO- BPO Services of 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."

Bob McMullan, CEO of Control Point Solutions Inc., said, "Over the last year, Control Point Solutions has invested in delivering the most advanced technologies, building new data and service centers, and elevating our customer service to become a leader across the industry. Our decision to join HCL is yet another strategic move aimed at advancing our position in the marketplace."

Related Links:

HCL Project to Connect India and Africa
HCL Takes Over Capital Stream