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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Convergys delivers consistent, quality customer experiences in 58 languages and from more than 150 locations around the globe. We partner with our clients to improve customer loyalty, reduce costs, and generate revenue through an extensive portfolio of capabilities, including customer care, analytics, tech support, collections, home agent, and end-to-end selling. We are committed to delighting our clients and their customers, delivering value to our shareholders, and creating opportunities for our talented, caring employees, 130,000-strong in 33 countries around the world.
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