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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Published: Monday, July 14, 2014