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Capital Square Partners Management Pte. Ltd. and other parties notify a proposed combination of the business operations of Startek Inc. and the CCI Entities under Section 5(d) of the Competition Act, 2002. Startek provides customer experience and customer relationship management services, and the CCI Entities operate in the same sector. The combination gives Startek a strategic opportunity to grow its business in Africa. The transaction does not create horizontal overlaps, vertical linkages, or complementary relationships in any relevant markets in India. The parties file the notification under the green channel route as per Section 6(4) of the Act and Rule 3 of the Competition Rules, 2024.
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SUMMARY OF THE PROPOSED COMBINATION
[UNDER REGULATION 13(2) OF THE COMPETITION COMMISSION OF INDIA (COMBINATIONS) REGULATIONS, 2024]
a) Name of the parties to the combination
The abovementioned are collectively referred to as the “Parties”.
b) The nature and purpose of the combination
The proposed transaction relates to the combination of the business operations of Startek Inc. (“Startek”) and the CCI Entities ("Proposed Combination”). It is being undertaken through multiple steps and requires notification under Section 5(d) of the Competition Act, 2002 (as amended) (“Act”).
Through the Proposed Combination, Startek will receive a strategic opportunity to grow its business, particularly in Africa (including South Africa), through access to the established international clientele of the CCI Entities.
c) The products, services and business(es) of the parties to the combination
Stockholm Parent is the holding company of Startek with no business operations of its own. Startek is a Delaware-incorporated private company which offers Customer Experience (“CX”) management and Customer Relationship Management (“CRM”) services. Stockholm Parent and Startek belong to the Capital Square Partners (“CSP”) group which has investments across technology, media and telecommunications, healthcare, consumer and business service, and education sectors, in South and Southeast Asia, including India.
The CCI Entities are free zone companies, headquartered in United Arab Emirates, which are engaged in the provision of CX management and CRM services. The shareholders of the CCI Entities (up to their ultimate controlling parents) do not have any business operations or physical presence in India.
d) The respective markets in which the parties to the combination operate
The Proposed Combination does not give rise to any horizontal overlaps, vertical linkages, or complementary relationships in any of the plausible relevant markets in India.
Accordingly, the Proposed Combination is eligible for approval under the green channel route as per Section 6(4) of the Act read with Rule 3 of the Competition (Criteria of Combination) Rules, 2024.
