Private equity fund Everstone Capital said on Wednesday it had bought Payfront Technologies Pte Ltd, the Asia-Pacific payroll business of Aon Hewitt, for an undisclosed amount.
Payfront, which operates across 17 countries in the Asia-Pacific region, will be renamed Excelity Global, Everstone Capital said in a statement.
Everstone is a private equity fund focused on India and Southeast Asia with $2.5 billion in assets under management. (Reporting by Indulal PM; Editing by Biju Dwarakanath)
Originally published here: http://www.thehindubusinessline.com/companies/everstone-buys-aon-hewitts-payroll-biz/article7058370.ece