India Dealbook: RBL hikes stake in Swadhaar Finserve, TeleTech to buy Motif

RBL Bank has hiked its stake in financial services products distributor Swadhaar Finserve Pvt Ltd to 58.4 per cent. Meanwhile, TeleTech Holdings will buy BPO firm Motif.

RBL Bank hikes stake in Swadhaar Finserve to 58.4%

RBL Bank (formerly Ratnakar Bank) has bought an additional 28.4 per cent stake in Mumbai-based Swadhaar Finserve Pvt Ltd in an all-cash deal.

With this acquisition, RBL now holds a 58.4 per cent stake in the company and Swadhaar Finserve becomes a subsidiary of RBL, according to a stock market disclosure.

Founded in 2005, Swadhaar Finserve distributes financial products. The company is backed by MicroVest and the Michael and Susan Dell Foundation.

Elevar Equity and SIDBI exited their investment in Swadhaar in September last year when RBL acquired a 30 per cent stake in the company.

TeleTech to acquire digital customer experience company Motif

TeleTech Holdings, a leading global provider of customer experience, engagement, and growth solutions, has acquired a majority stake in Motif.

TeleTech will make the acquisition through its subsidiary, TeleTech Services Corporation. It will first acquire a 70 per cent stake in Motif from private equity and certain individual investors for $46.9 million and then buy the remaining 30 per cent stake from Motif’s founders by May 2020.

California-based Motif Inc provides BPO and KPO services to e-commerce companies in the retail, travel, financial services and affiliate marketing verticals.

“Our trust and safety services are growing and we are excited to bring our capabilities to new geographies and industries through TeleTech’s portfolio of blue-chip clients,” said Kaushal Mehta, founder and CEO of Motif.

Founded in 1982, TeleTech offers customer engagement services through its proprietary offering, Humanify.

Edelweiss acted as the financial advisor to Motif on this deal.

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