Partners Group buying SPi Global for $330 M

MANILA, Philippines - Partners Group, a global private markets investment management firm, is set to acquire business process outsourcing (BPO) company SPi Global for $330 million.

In a disclosure to the Philippine Stock Exchange yesterday, PLDT announced Partners Group has agreed to acquire SPi from CVC Capital Partners Asia III and the telco’s indirect subsidiary PLDT Global Investments Corp. (PGIC) for $330 million.

PLDT through PGIC has an 18.32 percent economic interest in SPi.

SPi which was founded in the Philippines in 1980, caters to the top global education, technical and research publishers, as well as business application customers, by providing a set of specialized services and technology solutions related to creation, enrichment and transformation of published content.

Headquartered in Switzerland, Partners Group meanwhile, has over 54 billion euros or $57 billion in investment programs under management in private equity, private real estate, private infrastructure and private debt. It has offices in Manila, San Francisco, Denver, Houston, New York, São Paulo, London, Guernsey, Paris, Luxembourg, Milan, Munich, Dubai, Mumbai, Singapore, Shanghai, Seoul, Tokyo and Sydney.

“Completion of this acquisition by Partners Group will be subject to certain closing conditions. Cash distributions to PLDT will be determined after the acquisition is completed,” PLDT said.

Following the acquisition, Partners Group will be working with SPi’s management team which is currently headed by chief executive officer Ratan Datta.

Partners Group intends to expand the company organically and through select acquisitions with the introduction of additional offerings and business applications.

“After a period of dynamic growth under our prior owners, we are very happy to welcome Partners Group as our new business partner and look forward to working with the firm to further complement our global footprint as well as client service capabilities. With its prior exposure and strategic interest in the content and learning sectors, Partners Group’s experience, global network and values make it the right partner to support our continued growth while maintaining the client-centric approach which has allowed us to become the leading provider in the content services market,” Datta said.

Partners Group managing director Cyrus Driver who is set to join SPi’s board of directors following the acquisition said the company looks forward to working with the current management team to help the BPO firm achieve its full potential.