HCL Technologies Ltd has signed a deal to fully acquire privately-held provider of voice, data and wireless telecommunications expense management (TEM) services, Control Point Solutions, Inc. at an enterprise value of $20.8 million on a cash and debt free basis.

 The acquisition will strengthen HCL's advantage of providing multi-service delivery platforms for our customer with CPS' TEM expertise complementing HCL's remote infrastructure service offering. As aprt of the transaction, HCL will acquire four delivery centres in US with over 200 professionals.

Control Point Solutions caters to both enterprises and carriers across verticals and is a market leader in the highly fragmented TEM industry with its own internally developed platforms.

''The strategic acquisition of Control Point Solutions is in line with HCL BPO's goal to make strategic, platform-based acquisitions which give us sustainable competitive advantage in chosen verticals," said Ranjit Narasimhan, president and CEO- BPO Services of HCL Technologies. "This acquisition enhances HCL's ability to become an end-to-end provider of business process outsourcing services in the attractive TEM space."

With this acquisition, HCL becomes the first business process service provider to enter this market segment. HCL plans to leverage its existing experience in TEM to diversify into other gegraphical areas and newer segments like utilities and freight.

Its technology has been a key differentiator that has demonstrated capability to support both the Enterprise and Carrier segments. Control Point Solutions customers include Fortune 500 organizations across a broad variety of industries. For nearly two decades, Control Point Solutions has managed the entire telecom expense life cycle for clients, providing industry-leading solutions for their voice, data and wireless requirements.

"Our decision to join HCL is yet another strategic move aimed at advancing our position in the marketplace," said Bob McMullan, CEO of Control Point Solutions Inc."Over the last year, Control Point Solutions has invested in delivering the most advanced technologies, building new data and service centres, and elevating our customer service to become a leader across the industry. HCL is well capitalised with a far-reaching global infrastructure, offering new channels that will enable Control Point Solutions to focus on and grow its core BPO business in both the enterprise and carrier segments. HCL Technologies will also facilitate Control Point Solutions' push to offer additional services to our current client base and enhance its current platform.''

''The acquisition of Control Point is in continuation of HCL's strategy to seek non-linear growth opportunity," Commenting says Anil Chanana, executive vice president, finance, HCL Technologies. "We are confident of delivering incremental shareholder value through our acquisitions.''

Langham Capital Limited acted as financial advisors to HCL in the transaction. The acquisition is subject to fulfillment of certain closing conditions.