Mumbai, Maharashtra, India (October 13, 2008) – The Board of HOV Services, Inc., a proven provider of business process and knowledge process outsourcing solutions, announced its resolve to empower the Steering Committee consisting of the Independent Directors to continue negotiation with the buyer to remove any variability in purchase consideration linked to the share price of the Company and any other contingency.
The Board had viewed the Letter of Intent of the buyer, valuation report, draft of the fairness opinion and fully concurs with the documents and keeping in view the present market conditions, decided to postpone the transaction in the best interest of the shareholders' till further notice.
About HOV Services
HOV Services is a leader in the delivery of flexible, end-to-end outsourcing solutions. As a strategic partner and leader in the Business Process and Knowledge Process outsourcing marketplace, we are focused on improving financial and operational performance for our customers. Our clients include over 50 percent of the FORTUNE 100® and are some of the largest companies in the industries served. We combine over 20 years of industry experience with RightShore delivery centers strategically located in India, North America, China and Mexico with over 12,000 associates working together to Exceed Expectations® of our clients by assisting them in reaching their strategic business goals.
Our suite of solutions encompass Finance and Accounting, Content Management, and Risk Management customized to meet the needs of companies in the Healthcare, BFSI, Teleco,Media & Publishing, Retail, Manufacturing and Government sectors.
To learn more, visit www.hovservices.com. |
