Private equity firms Verod Capital and AfricInvest have jointly acquired a majority stake in iSON Xperiences, a prominent ICT solutions provider across Africa, the United Arab Emirates, and India. The investment aims to further strengthen iSON Xperiences’ leading position in the business process outsourcing (BPO) sector.
- About iSON Xperiences:
- Established in 2010, iSON Xperiences specializes in delivering business process outsourcing (BPO), business process management, and digital customer experience solutions.
- The company serves over 500 million end-users in diverse sectors including Telecom, Financial Services, Energy & Utilities, Media & Entertainment, Aviation, Retail, and E-commerce.
- Geographical Presence:
- iSON Xperiences operates in 19 countries, employing over 18,000 individuals, with a strong emphasis on the African market.
- Investment Structure:
- The majority stake acquisition was structured using funds from the Verod Capital Growth Fund III, and AfricInvest Funds III and IV.
- AfricInvest’s Continued Commitment:
- AfricInvest, which initially invested in iSON Xperiences in 2018, is reaffirming its commitment to the company. This demonstrates their confidence in the company’s potential and positive impact on employment in developing nations.
- Diversification and Market Expansion:
- The new capital injection will empower iSON Xperiences to diversify its service offerings and explore entry into new markets.
- Strategic Positioning in Africa:
- iSON Xperiences is dedicated to strengthening its leading position in Africa’s BPO sector, leveraging the continent’s diverse, multilingual population and cost-effective operational environment.
- Emphasis on Digital Transformation:
- The company is strategically focusing on digital initiatives, introducing various digital services and products. This move towards digital transformation aims to enhance profitability and overall value.
- CEO’s Perspective:
- Pravin Kumar, Global CEO at iSON Xperiences, expressed confidence in the company’s strategic direction, emphasizing the transformative power of job creation and service excellence.
Conclusion: The acquisition of a majority stake in iSON Xperiences by Verod Capital and AfricInvest signals a strategic move to fortify the company’s leading position in the BPO sector, particularly in Africa. This investment not only provides the company with additional capital but also opens doors for diversification and market expansion, thereby contributing to the broader development of the ICT industry in the region.