Globalturk Capital has invested in the Turkish call center company Tempo Cagri Hizmetleri A.S., along with leading Japanese trading and investment company Mitsui & Co. Ltd.
The agreements of the co-investment deal were signed on December 18th 2012, but officially closed this Monday, January 21st, 2013.
As a part of the investment deal, founding and managing partner of Globalturk Capital, Baris Oney will sit on the board of Tempo. Joining Oney on the board will be Tempo’s founding shareholders, as well as representatives from Mitsui.
Oney commented on the arrangement, saying, “The partnership between Tempo’s shareholders, Mitsui and Globalturk Capital’s partners, represents an important milestone in the life of Tempo. With its strong funding base and substantial institutional partners--both local and international--Tempo is well positioned to rapidly increase its share of the promising call center and distant services market.”
Globalturk expressed interest in Tempo long before making this co-investment, originally in the summer of 2011. The company invested then by taking an early minority share option, but has now expressed more interest in the company by co-investing on a greater scale.
The hope for the partnership is to help Tempo grow, as the company has been known over the last two years as the best call center services company for telesales at the Istanbul Call Center Days Annual Event.
As this event is the single most important event in the call center industry, the honor is significant, and has led many companies to take a closer look at investing with Tempo.
With 1500 agents in Istanbul, Afyon and Urfa, the region could benefit substantially from Globalturk Capital’s and Mitsui’s funding.
For Mitsui especially, this deal has been a long time coming; the company has engaged in a search for investment opportunities for three years, both in and outside of Turkey.
As a result of investing in Tempo, Mitsui is reportedly looking for more investment opportunities in Turkey and surrounding regions.
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Edited by Brooke Neuman