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The Ayala Corp.’s business-process outsourcing (BPO)
investment arm LiveIt Solutions Inc. will acquire another US-based
company and expand in the Philippines and abroad.
In a statement, LiveIt said on
Thursday that it invested additional $11 million in Integreon
Managed Solutions Inc. to fund its acquisition of US-based CBF Group
Inc. and build new sites in Manila and Delhi, India.
CBF provides support services
like cost-effective document production, word processing and
technology support services to law firms.
“Our additional investment in
Integreon is testament to our strong belief that its acquisition of
CBF and expansion into new sites in Manila and Delhi will enable
Integreon to provide its customers with an even fuller range of
attractive options,” Alfredo I. Ayala, LiveIt CEO and Integreon
chairman, said.
In October last year LiveIt
bought Integreon for P900 million through a partnership with Los
Angeles-based company’s existing management team.
Integreon has 2,000 employees
globally and provides legal process outsourcing (LPO) and high-value
knowledge process outsourcing services to some of the largest global
law firms, investment banks and numerous Global 2000 corporations in
the US and in Europe.
Liam Brown, Integreon’s CEO,
said that aside from allowing the company to enhance its position as
the leading LPO provider, the acquisition of CBF would also
strengthen its relationships with two of the world’s top three law
firms and provide its associates with global career paths.
Meanwhile, LiveIt said that after
it has acquired CBF, the latter’s management team will stay and
continue to oversee day-to-day operations of the company’s
recently expanded North Dakota facility.
--Likha C. Cuevas
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