Essar group-run Aegis BPO said it is acquiring TeleTech Services, an equal joint venture between TeleTech Europe and Bharti Ventures, for nearly $13 million in cash.
“We would be financing the acquisition through the company’s internal resources,” CEO and MD Aparup Sengupta said.
This is Aegis’ seventh acquisition in past two years, Other companies acquired by Aegis include Canada’s Genesis Media, French sales promotion and direct marketing agency Implicom, which Aegis acquired in October this year.
Mr Sengupta said that the acquisition has brought telecom provider Bharti-Airtel into the company’s client portfolio. Aegis already services the customer care requirements for Idea, Tata Teleservices and Vodafone.
Mr Sengupta added that the acquisition would help the Essar Group-owned BPO to add about $15 million to its topline and add another 3-4 clients including Bharti-Airtel. The deal is expected to be closed by the end of next month, company officials said.
The company also said that it expects to become a $500 million company within the next 2 years. CM Sharma, CFO, Aegis BPO told ET, We want to continue to grow through further acquisitions in geographies like the Europe and South East Asia.
He added that the company is actively looking at acquisitions in geographies outside the US and India, especially in the BFSI and telecom sectors. BFSI and telecom account for nearly 20% and 40% respectively of the company’s present revenues.
Mr Sengupta said the acquisition would build on the partner relations that the company has in the geographies planned for expansion. He also did not rule out acquiring one of its existing partners for fuelling further growth.
Source: Economic Times