CCI approves acquisition of Marnix Lux by Concentrix Corporation

New Delhi [India], July 5 : The Competition Commission of India (CCI) on Tuesday approved the acquisition of Marnix Lux by Concentrix Corporation and shareholding in the combined company by the shareholders of Marnix Lux.

"The proposed combination envisages indirect acquisition of Marnix Lux SA (Marnix Lux) by Concentrix Corporation and acquisition of approximately 22 per cent shareholding in the combined company by the shareholders of Marnix Lux," the official statement released by CCI read.

The acquirer Concentrix Corporation is a USA-based publicly listed company. It is said to be engaged in providing customer experience services, a segment of Information Technology and Information Technology enabled Services.

The target company Marnix Lux is the parent company of Webhelp S.A.S. (Webhelp). Webhelp is said to be active in the provision of business process outsourcing services and specialised services.

The Competition Commission of India said that in this regard a detailed order will be released soon.