Hero Group of India in November acquired British call centre operator Telecom Service Company (TSC). Stephenson Harwood advised the Hero Group on the US$82 million acquisition, with Morton Fraser providing Scottish legal advice and Eversheds advising TSC.
TSC, which employs over 3,000 people in Britain, has merged with Hero‘s call centre subsidiary Hero ITES to create TSC Hero. The combined business will have revenue of over US$100 million.
“India is now the UK’s second-biggest source of foreign direct investment,” said Pawan Sharma, corporate partner at Stephenson Harwood. “We are increasingly seeing [India’s] IT [and] software sector look to the UK.”
