Quatrro Acquires BPO UK-based Gaming Outsourcing Firm Babel Media
By VCCircle - Tue 01 Jul 2008 08:51 AM PST
In its sixth and the biggest acquisition till date, Raman Roy-led Quatrro BPO, backed by US-based hedge fund DE Shaw Group, has acquired British firm Babel Media, a provider of specialist outsourced services to gaming and interactive entertainment industry. While the deal size stands undisclosed the deal value is believed to be in the $100-125 million bracket.
Also as part of the transaction, which is being funded by DE Shaw, the New York-based investment group is picking a minority stake of around 5-10 per cent in Quatrro for an undisclosed sum. Besides this, DE Shaw will also hold a minority stake in Babel and will provide leverage finance for the acquisition. Quatrro will hold a majority stake in the UK-based firm.
According to a PricewaterhouseCoopers report, the gaming industry in India is set to grow to $68 billion by 2012. Babel, which provides games-focused localisation, certification, audio and print services across platforms, has 500 employees at Brighton(UK), Los Angeles, Montreal and New Delhi.
This story was provided by our content partner VCCircle
Posted in: Gaming, Mergers & Acquisitions
