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      "text": "Note: 1. Deal activity includes BPM companies acquiring 7, 13 and 17 IT Services companies in 2020, 2021 and 2022 respectively; 2. Based on transactions where deal values were disclosed; 3. PE Participation includes PE majority, PE minority and transactions made by PE portfolio companies; 4. CX - Digital includes contact centre with digital capabilities such as an omni-channel customer experience and embedded with technologies such as automation, analytics, AI; 5. CX - Legacy includes traditional customer contact centre with minimal or no digital capabilities. Source: MergerMarket, PitchBook, Press Releases, EY Analysis.",
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