Add-on Acquisition • Business Services

IBM Acquires Daksh eServices Pvt.

On April 8, 2004, IBM acquired business services company Daksh eServices Pvt. from Actis Capital and General Atlantic for 700M INR

Acquisition Context
  • This is IBM’s 3rd transaction in the Business Services sector.
  • This is IBM’s 34th largest (disclosed) transaction.
  • This is IBM’s 1st transaction in India.

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M&A Deal Summary

Date April 8, 2004
Target Daksh eServices Pvt.
Sector Business Services
Buyer(s) IBM
Sellers(s) Actis Capital
General Atlantic
Deal Type Add-on Acquisition
Deal Value 700M INR

Target Company

Daksh eServices Pvt.

Gurgaon, India
Daksh eServices Pvt. Ltd. is a provider of business process outsourcing (BPO) services.
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Buyer Overview 1

Buyer

IBM

Armonk, New York, United States

Category Company
Founded 1911
Sector Information Technology
Employees270,300
Revenue 62.8B USD (2024)
DESCRIPTION
Entrance to IBM's corporate headquarters in Armonk, New York.
Entrance to IBM's corporate headquarters in Armonk, New York.

IBM is a global provider of information technology products and services. IBM's products and services include IT infrastructure and business process services, cloud computing, business analytics, and enterprise software. IBM was formed in 1911 and is based in Armonk, New York.


Deal Context for Buyer #
Overall 23 of 204
Sector: Business Services 3 of 5
Type: Add-on Acquisition 16 of 181
Country: India 1 of 2
Year: 2004 2 of 8
Size (of disclosed) 34 of 34
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-04-06 Trigo Technologies

Brisbane, California, United States

Trigo Technologies, Inc. is a provider of supply chain software services.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-06-07 Candle

El Segundo, California, United States

Candle Corp. is a provider of software services for infrastructure.

Buy -

Seller Profiles 2

SELLER

Actis Capital

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2004
PE ASSETS 26.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Actis Capital is a private equity firm focused on investments in emerging markets. Actis segments its investment activity into three areas. These include private equity, energy, and real estate. Actis' private equity team looks for buyout and growth capital opportunities requiring at least $50 million in financing. Depending on the situation, Actis will consider both controlling and minority investment situations. Sectors of interest include financial services, consumer and retail, business services, and industrial. Actis' energy group seeks to invest in in a variety of energy and utility projects. Actis' real estate team invests equity capital in office, residential, industrial, hotel and retail projects. Actis Capital was established in 2004 and is based in London, United Kingdom.


Deal Context for Seller #
Overall 1 of 92
Sector: Business Services 1 of 4
Type: Add-on Acquisition 1 of 46
Country: India 1 of 21
Year: 2004 1 of 3
Size (of disclosed) 17 of 18
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-11-13 Platmin

Centurion, South Africa

Platmin is an platinum group materials exploration company.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-06-10 Netkraft Pvt.

Bangalore, India

Netkraft Pvt. Ltd. is a consultant and internet service provider.

Sell -
SELLER

General Atlantic

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1980
PE ASSETS 105.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

General Atlantic is a large private equity firm that invests globally in growth-oriented public and private companies. Broad areas of interest include financial services, media and consumer, healthcare, enterprise solutions, communications and electronics, and energy. General Atlantic looks to invest $40 to $400 million in transactions that support growth, expansions, buy-outs, consolidations and build-ups. General Atlantic seeks to make 8 to 12 investments per year with an investment horizon of five to ten years. The Firm's geographic coverage spans North America; Europe; Asia/Pacific; and India. General Atlantic was formed in 1980 and is based in New York, New York.


Deal Context for Seller #
Overall 12 of 166
Sector: Business Services 2 of 16
Type: Add-on Acquisition 7 of 50
Country: India 1 of 13
Year: 2004 2 of 3
Size (of disclosed) 35 of 35
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-01-23 Rebus IS

London, United Kingdom

Leading U.K. provider of IT services to the global insurance market.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-06-07 SSA Global Technologies

Chicago, Illinois, United States

SSA Global Technologies is the company that emerged from the August 2000 acquisition of substantially all of the assets of System Software Associates, Inc. by Gores and Cerberus Capital Management. SSA Global is a leading provider of extended ERP solutions for manufacturing, distribution, retail, services and public organizations worldwide. In addition to core ERP applications, SSA Global offers a full range of integrated extension solutions including corporate performance management, customer relationship management, product lifecycle management, supply chain management and supplier relationship management.

Sell -