The Competition Commission of India (CCI) announced on Tuesday that it has approved the proposed deal between Concentrix Corporation and Marnix Lux. Concentrix Corporation, a customer experience services company based in the US, plans to indirectly acquire Marnix Lux and for Marnix Lux shareholders to acquire around 22% shareholding in the combined entity, according to an official release.
Related: A Competition Law for Shaping the Future of the Indian Economy: Competition Commission of India 2.0
Marnix Lux is the parent company of Webhelp S.A.S., which operates in the business process outsourcing services and specialized services segment.
Deals above a certain threshold must be approved by the regulator, which monitors unfair business practices and encourages fair competition in the marketplace.
