News : Aegis to Sell BPO Business in US, Philippines, Costa Rica
New Delhi, July 10, 2014 -- Essar Group firm AGC Holdings will sell its BPO business in the US, the Philippines and Costa Rica to Paris-based outsourcing firm Teleperformance.
AGC Holdings, a wholly owned portfolio company of Essar Global Fund has entered into a definitive agreement with Teleperformance to sell Aegis USA Inc (AUI) the company said in a statement.
It serves clients in the US market across industries like healthcare, financial services, travel and hospitality.
The transaction is expected to close during the third quarter of 2014, subject to receipt of certain regulatory approvals and other customary closing conditions.
Aegis will continue to retain the remainder of the BPO business globally across India, Sri Lanka, Malaysia, Australia, South Africa, Peru, Argentina, Saudi Arabia and UK, it added.
Uday Gujadhur, Board Member of Essar Capital Ltd and fund manager for Essar Global Fund Limited, said the transaction would yield many synergies and benefits for Aegis' employees and customers.
"We look forward to continue to grow the Aegis portfolio in our other markets including India, Malaysia, Australia, Middle East, Europe and Latin America," he said.
Essar made a foray into the BPO business through the acquisition of Aegis Communication Group, US in 2004.
Posted by Veronica Silva Cusi, news correspondent
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As a provider in customer care and acquisition for over three decades, Aegis has a track record of introducing process and technology innovations. Today, several Fortune 500 clients trust Aegis to manage their customer interaction, back office and other routine business processes. Aegis’s culture is unique in terms of recognizing its employees as the foundation of its success. We invest in our people because we recognize their importance in our partnerships with clients. In the virtual business environment, there is no difference between your team and ours; more importantly, there is no difference between your customer and ours.
Teleperformance is a global provider of customer experience management in terms of revenue and global scale. We are the industry leader in security and our management has over 30 years of experience working with the most successful companies worldwide. With the strongest financial profile in the contact center space, Teleperformance’s leadership is unparalleled. Teleperformance was founded in 1978 in Paris, France and our U.S. based operations, headquartered in Holladay, Utah, were founded in 1993. Since then, expansion has been fueled by organic growth through additional volume awards by satisfied clients, and through acquisitions. Our combined financial strength, expertise, proven processes, and technology enhance the services and value we deliver to our customers and position us well to partner with clients around the globe.
Published: Monday, July 14, 2014