Everstone acquires CRM solutions in a USD 150 mln deal

| Updated: Oct 07, 2016 19:22 IST

New Delhi [India], Oct 7 (ANI): Homegrown private equity fund Everstone has announced acquiring of US-based global CRM solutions provider C3 (CustomerContactChannels) through its Singapore-based arm Everise Services, along with Sunrise BPO as co-investor in a deal worth USD 150 million. Founded in 2010, C3 is headquartered in the US with its global presence in Philippines and Guatemala, where the company earns around USD 200 million in revenues. Everstone bought C3 from Stone Point, which was an investor in C3 through its private equity fund Trident V LP. Stone Point Capital is a private equity firm that makes investments in businesses within the global financial services industry. Stone Point has raised and managed six private equity funds, the Trident Funds with aggregate committed capital of approximately USD 13 billion. Stone Point Capital's investment activities are led by Charles A. Davis, Stephen Friedman, who have worked together for more than 20 years at Goldman, Sachs and Co. Everise plans to double its revenue of C3 to USD 500-plus million over the next five years. It had reported a revenue of around USD 200 million in 2015. As part of this strategy, Singapore-based Sunrise BPO will take the leading role in operating the business, in addition to bringing capital. Everstone will be the largest financial investor and it will take the lead in C3's India operational build-out to grow the company. As per Gartner, Sudhir Agarwal will be named as the Chief Executive Officer (CEO) at C3. The worldwide customer relationship management (CRM) software market rose 12.3 percent to USD 26.3 billion in 2015. (ANI)