Essar sells BPO company Aegis for $275-300 million


Essar sells BPO company Aegis for $275-300 million

Ruias-led Essar Group today announced sale of its BPO company Aegis Ltd to Singapore-based private equity fund manager Capital Square Partners for an estimated USD 275 to 300 million. The sale marks Essar’s complete exit from BPO business. Essar had in July 2014 sold Aegis USA Inc, an outsourcing and technology company with operations in the US, the Philippines and Costa Rica, to Teleperformance of Paris for USD 610 million. With its US subsidiary gone, Aegis’ headcount and revenue were reduced substantially. Since then, Aegis has again grown the business in terms of headcount, revenues, product offerings nd customer base.

Aegis had BPO business globally across India, Sri Lanka, Malaysia, Australia, South Africa, Peru, Argentina, Saudi Arabia and the UK. It had 40,000 employees globally, 47 BPOs in these 10 countries and USD 400 million in revenue. “AGC Holdings Ltd (AGC) Mauritius, a wholly-owned portfolio company of Essar Global Ltd, has entered into a definitive agreement with Capital Square Partners (CSP) to sell 100 per cent of its stake,” a company statement said. Read More…

 

Credit By :  Financialexpress.com

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