New Delhi: The Competition Commission of India (CCI) has approved the acquisition of Global Content Alpha Partners Holdco Pte Ltd (GCAPH) by Starnmeer BV under Section 31(1) of the Competition Act, 2002. Starnmeer, a recently incorporated entity, is ultimately owned and controlled by funds comprising the Baring Asia Private Equity Fund VII, a fund affiliated with Baring Private Equity Asia Pte Ltd (BPEA).

According to an official statement, BPEA  is  an  international  private  equity  firm  with  a  focus  on  private  equity investments in Asia. BPEA and its affiliates currently inter alia hold investments in various entities that are engaged in the provision of Information Technology (IT) and IT enabled services (ITeS) in India (Portfolio Entities). 

GCAPH is  engaged  in  the  provision  of  services  within  the  IT and ITeS sector, more specifically business processing outsourcing (BPO) services and caters to  customers  that  are  engaged  in the  communications,  media,  and  services sector and  the  education  sector. In India, GCAPH is present through its subsidiaries, namely, LearningMate Solutions Private Limited, SPI Technologies India Private Limited, Scope   e-Knowledge   Centre Private Limited, and Scientific Publishing Services Private Limited.

The Proposed Combination, notified under Sections 5(a) of the Competition Act, 2002, concerns the proposed acquisition of up to the entire issued share capital of GCAPH from its existing shareholders. A detailed order of the CCI will follow, added the official statement. /BI/