Startek Announces Agreement to be Acquired by Funds Managed by CSP Management Limited for $4.30 Per Share in Cash

Startek, a global customer experience solutions provider, has recently announced a significant development in its journey towards growth and expansion. The company has entered into a definitive agreement to be acquired by funds managed by Capital Square Partners (CSP), a private equity firm specializing in cross-border technology and business services. This all-cash transaction is valued at approximately $217 million, with an equity value of around $174 million.

Under the terms of the agreement, CSP will acquire all outstanding shares of Startek common stock for $4.30 per share in cash. This represents a premium of approximately 32% to Startek’s closing share price on October 9, 2023, and a premium of approximately 50% to the closing price of the shares on the last trading day prior to the announcement of CSP’s non-binding acquisition proposal.

The acquisition proposal was initially presented to Startek on July 18, 2023, and was thoroughly reviewed by a Special Committee consisting of independent and disinterested directors of the Board. After careful consideration and with the assistance of independent financial and legal advisors, the Special Committee unanimously recommended that the Board approve the merger agreement. Subsequently, the Startek Board, based on the recommendation of the Special Committee, unanimously approved the merger agreement.

The transaction is expected to close by the end of calendar year 2023, subject to customary closing conditions. Notably, the transaction is not subject to any financing contingency. Upon completion, Startek will become a private company and will no longer trade on the New York Stock Exchange.

Startek has been a leading provider of customer experience solutions for over 35 years, catering to some of the world’s most renowned brands. With operations spread across 12 countries and a workforce of 38,000 associates, Startek delivers personalized and memorable experiences in both voice and non-voice channels. The company serves clients in various industries, including cable, media and telecom, travel and hospitality, retail and e-commerce, and banking and financial services.

Capital Square Partners, founded in 2014 in Singapore, is a prominent private equity firm with a focus on technology and business services in Southeast Asia and India. With $1.4 billion under management, CSP is one of the largest dedicated technology and technology-enabled business services private equity fund managers in Asia. The firm has a proven track record of investing in and creating successful companies in the technology services sector.

This acquisition marks an exciting chapter for Startek as it joins forces with CSP to further enhance its capabilities and expand its global footprint. By leveraging CSP’s expertise and resources, Startek aims to continue delivering exceptional value to its clients, fostering growth opportunities for its employees, and generating sustainable returns for its shareholders.

Both Startek and CSP are confident that this strategic partnership will pave the way for continued success and innovation in the customer experience solutions industry. The transaction represents a significant milestone for Startek, reinforcing its position as a leader in the market and setting the stage for future achievements.

For more information about Startek and its customer experience solutions, please visit their website at

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