Early this week, Quatrro BPO, the Raman Roy-founded specialist business process outsourcing firm, acquired UK gaming outsourcing company Babel Media. The size of the deal is estimated at $100-120 million, but the company has not confirmed these numbers. This is Quatrro’s sixth acquisition since its inception in January 2006 (see Quatrro’s M&A File below). An interesting aspect about the Babel deal is the presence of alternative asset investment firm DE Shaw as a co-investor. The New York-headquartered investor, which runs a private equity practice out of New Delhi led by former General Electric honcho Anil Chawla, has picked up minority stakes in Babel and Quatrro as part of the transaction.
This, however, is not the first time that Quatrro has partnered with a private equity investor to execute an acquisition. In fact, said Roy over a 20-minute telephonic chat from Delhi yesterday, this has been a consistent strategy all along. Excerpts: