Avendus Capital Advises eClerx Services Ltd on Its Acquisition of CLX Europe S.P.A

eClerx Services Limited (“eClerx”) (NSE: ECLERX, BSE: 532927), a specialist Knowledge and Business Process Outsourcing (KPO/BPO) services provider, has signed an agreement to acquire CLX Europe S.P.A (“CLX”), a closely held Italy based media content management company, for a total purchase consideration of up to EUR 25 Mn. eClerx will acquire CLX through its UK based subsidiary. Completion of the transaction is expected soon and is subject to applicable regulatory approvals and customary closing conditions.

CLX is a niche digital services firm active in creative asset creation, management and delivery to support the marketing, communication and branding of companies and their products. With 4 delivery centers across Italy, UK, Germany and Thailand, CLX caters to marquee clientele comprising of leading luxury brands, retailers, etailers and publishers. CLX’s proprietary Digital Asset Management (DAM) platform “FLUiiD4” is the engine behind CLX’s creative platform. CLX is also a leader in the Computer Generated Images (CGI) space – an emerging offering that delivers significant cost savings to fast moving retailers and luxury brands.

With this acquisition, eClerx gains a strong foothold in the European media industry, diversifies its revenue base by adding leading luxury brands as clients and brings on board strong delivery teams with attractive talent pool and cost structures.

The consideration for the acquisition is all cash, to be funded from eClerx's internal resources. The management team of CLX will continue to manage day-to-day operations.

Avendus Capital Pvt. Ltd. acted as the exclusive financial advisor to eClerx Services Ltd on this transaction.