Aegis sells BPO business in PH to Telepeformance

Rumors have going on since last month that Essar Global Fund LTD., the firm that acquired AGC Holdings LTD (Aegis) back in 2004, was negotiating with several companies about possibly selling some of its BPO operations. Recently, all these speculations have been laid to rest as Teleperformance agreed to acquire Aegis’ businesses in Costa Rica, Philippines and United States for USD410PHP 24,061INR 34,747EUR 390CNY 2,984 million.

In a statement, Teleperformance CEO Daniel Julien expressed his excitement over the recent acquisition adding that “this will be a historic transaction for the Teleperformance shareholders as this acquisition fits perfectly with our long-term strategy.”

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Julien has all the reason to be ecstatic about the deal because Aegis USA Inc. (AUI) will further strengthen the company’s presence in the US both in healthcare and financial services, as well as in the fields of travel and hospitality.

Furthermore, the acquisition represents USD400PHP 23,474INR 33,900EUR 381CNY 2,911 million of annual revenue, not to mention adding 19,000 FTEs across 16 call centers in the US, Costa Rica and Philippines under TP”s belt.

“We look forward to partnering with our new clients upon the closing of the transaction. We want to ensure them that the entire consolidated team is committed to serving them with dedication, professionalism and passion,”

– Daniel Julien, Executive Chairman and CEO of Teleperformance Group Inc.

As for Essar Group’s part, Uday Gujadhur, board member of Essar Capital Limited and fund manager for Essar Global Fund Limited, said that the deal is win-win for both companies and that “this transaction will also yield many synergies and benefits for Aegis’ employees and esteemed customers.”

He also mentioned that the firm is looking forward to grow Aegis’ remaining BPO operations in other countries after the acquisition which is expected to be finalized on the third quarter of the year.

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