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      "text": "The depth of digital capabilities, including cloud services, analytics, automation and AI-led platforms in specialized business functions and quality of clients are in high demand and buyers are readily paying a 'scarcity' premium.",
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      "text": "Deals done by active buyers (2022): Majorel (3), WNS (3), Telus (2), Genpact (1), Teleperformance (1), Concentrix (1)",
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      "text": "Since the pandemic, swift recovery in growth and profitability of outsourced CX and BPM functions has triggered better valuations. Large diversified BPM and CX players have been prioritizing M&A to deepen domain and digital capabilities.",
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      "text": "Note: 1.Buyer analysis considered for companies with of $1B+ LTM 2022 revenue. Select transactions presented are illustrative in nature; 2. CX - Digital includes contact centre with digital capabilities such as an omni-channel customer experience and embedded with technologies such as automation, analytics, AI. Source: MergerMarket, PitchBook, Press Releases, EY Analysis.",
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      "kind": "title",
      "text": "Strategic buyers' M&A imperatives - adding specializations and shifting focus on talent",
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