MUMBAI: US-based Synnex Corp has agreed to acquire business process outsourcing firm Minacs for about $420 million (around ₹2,814 crore).
Minacs, earlier part of the Aditya Birla Group, was sold to CX Partners and Capital Square Partners in 2014. The two private equity firms will exit their investment in Minacs after the Synnex deal.
Minacs will be integrated into Synnex’s Concentrix business segment. Concentrix is a part of Synnex Corporation, which operates in 26 countries and was founded in 1980. It is a Fortune 500 company.
Minacs has 21,000 employees across 35 centres worldwide. Anil Bhalla, CEO of Minacs, will stay with the combined company and join senior executive staff of Concentrix, Synnex said.
The transaction is expected to close in the third quarter of 2016, subject to meeting regulatory approvals.