Local outsourcing firm sold to Support Services Group
Published:Wednesday | August 25, 2021 | 12:07 AM
Sajan Choksi is selling his outsourcing firm Innovative Vision to an American company Support Services Group, SSG, for an undisclosed sum.
Innovative Vision operates in Jamaica and Canada with a workforce of 900.
“I’ve always been an entrepreneur at heart, and this is one of those moments that we strive for and relish. Look forward to what’s next as we build IV/SSG into truly something special,” said Choksi on his LinkedIn page.The deal was structured by Novistra Capital and Chitiz Pathak LLP, according to Choksi.
Global companies set on cutting costs have farmed out services previously done in-house to outsourcing firms. Over 60 outsourcing firms of various sizes operate in Jamaica, generating US$700 million in revenue in 2020 and employing roughly 40,000 persons, according to data from the Jamaica Government’s marketing agency, Jampro.
Innovative Vision was founded in 2002 and has grown from a boutique operation serving a few clients in specialized areas to catering to high-growth companies specialising in technology and e-commerce.
The details of the deal were not disclosed, but Choksi will join the SSG family in some capacity.
The acquisition would see Support Services Group enter its 10th territory. It currently operates 27 contact centres and work-from-home hubs across the United States, Canada, Latin America, Europe, and Asia with 9,500 employees.
Innovative did not respond to a request for comment up to press time, while efforts at contact with SSG were unsuccessful.
“Sajan and his team have built a great company,” said Bryan Gross, CEO of Support Services Group in a release on the acquisition. “We invest in talent ahead of growth, and Innovative Vision has strong culture and leadership. Our clients are looking for quality delivery options, so this was a perfect fit,” he said.