News : Convergys in Advanced Talks to Buy BPO Firm Minacs
Mumbai, India, May 2, 2016 -- Convergys Corp., the US-based IT company with call centre operations in India, is in final level acquisition talks with business process outsourcing (BPO) firm Minacs Ltd, reported the Mint, citing sources close to development.
Minacs, a Canada-headquartered company, was acquired by TransWorks Information Services Pvt. Ltd, a unit of Aditya Birla Nuvo in 2006.
Later in 2014, Aditya Birla sold Minacs to Capital Square Partners Pte Ltd and CX Partners Llp, two private equity (PE)firms.
A source revealed to the Mint that Minacs had signed an exclusivity agreement with Convergys, trying to keep away other suitors for the probable sale. A few PE companies such as CVC Capital Partners Ltd and HIG Capital Partners had evinced interest in acquiring Minacs.
"Minacs could be a right acquisition target for Convergys as it will help to strengthen its position in India, a fast-growing outsourcing market," a source declining to be named told the Mint.
Posted by Veronica Silva Cusi, news correspondent
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Headquartered in Atlanta, Convergent is a business process outsourcing, revenue cycle and receivables management companies, with fourteen North American operating centers across all four time zones. The company has more than sixty years of history serving a diverse industry customer base, including contact center solutions, receivables management outsourcing, commercial receivables management and healthcare revenue cycle management. Convergent empowers its clients with an innovative combination of an adaptable workflow engine, technology-enabled operations, next-generation analytics and professional services to deliver superior financial performance and high levels of client and consumer satisfaction.
Minacs is a business solutions company that partners with global corporations in the manufacturing, retail, telecom, technology, media and entertainment, banking, insurance, healthcare and public sectors. We leverage years of process, domain and technology expertise to deliver superior business value to clients with our seamless Customer Lifecycle, Marketing, Finance and Accounting, Procurement and IT solutions and services. 21,000 Minacs experts across 10 countries and 35 centers spanning Canada, Germany, Hungary, India, Jamaica, Philippines, the UK and USA power our solutions through a global delivery model that helps our clients enhance revenues, profitability and customer service
Published: Wednesday, May 4, 2016