Aegis to take over Symphony Assets for Rs 43 crore by March

Aegis to take over Symphony Assets for Rs 43 crore by March

M&A/ Alliances, Outsourcing News/ PR
NEW DELHI: Aiming to expand its footprint in Southeast Asia, China, Korea and Japan, the US $ 39 billion Essar Group's business process outsourcing arm Aegis will acquire Malaysia-based BPO firm Symphony Assets. The deal, which was entered into earlier this month, is expected to be closed by March this year. It has been signed between an Aegis subsidiary, Essar Services Mauritius, and Symphony House Berhad, which wholly owns Symphony Assets. This will be Aegis's 19th acquisition. "Aegis is in final talks to acquire the BPO operations in Malaysia of Symphony House Berhad, a leading Malaysian IT firm. The deal is worth 22.71 million Malaysian Ringgit (about Rs 43 crore)," a source close to the development said. The acquisition will help Aegis not only gain a foothold in Southeast Asia…
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Tech Mahindra BPO scouts for acquisitions in healthcare, engineering services

Tech Mahindra BPO scouts for acquisitions in healthcare, engineering services

M&A/ Alliances, Outsourcing News/ PR
The business process outsourcing (BPO) arm of IT company Tech Mahindra is scouting for acquisitions to strengthen its presence across identified verticals, Sujit Baksi, CEO of the company’s business services group or BPO division, told VCCircle. “We are looking for inorganic growth specifically for healthcare and lifesciences vertical. We preferably want to acquire platform-based companies as they attain high profits because they rely on platform rather than labour,” said Baksi. He informed that the company is also open to acquisitions for niche capabilities in the aviation and engineering services domain as well. The BPO division of Tech Mahindra has six verticals at present: Banking Financial Services and Insurance (BFSI), Manufacturing, Retail, Healthcare and Lifesciences, Telecom & Hi Tech. It employs around 22,000 people and has annual revenues of around $270…
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Birlasoft buys US’ EnablePath

Birlasoft buys US’ EnablePath

M&A/ Alliances, Outsourcing News/ PR
Birlasoft, mid-sized information technology services company of the $1.2-billion C K Birla group, has taken the inorganic route to increase delivery capabilities and expertise in the high-end cloud consulting services in the customer relationship management (CRM) business. On Monday, it announced it had bought Atlanta, US-based EnablePath, a fast growing CRM software provider, for an undisclosed amount. "We are open to more such strategic acquisitions to strengthen our analytics, mobility and supply chain capabilities," said Preeti Das, chief executive officer (CEO). The company has roped in investment banks to draw a list of companies for possible acquisition or strategic alliances. The strategy is to buy, align and grow, company executives said. A special team, Office of Strategy Management, works closely with CEO’s office for this, executives added. This is a…
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Customer services provider Convergys to buy Stream Global

Customer services provider Convergys to buy Stream Global

M&A/ Alliances, Outsourcing News/ PR
Customer management services provider Convergys Corp (CVG.N) said it would buy rival Stream Global Services Inc from its private equity owners for $820 million in cash in its largest ever deal to expand its client base and international presence. Shares of Cincinnati, Ohio-based Convergys jumped 20 percent after the bell on Monday.Stream's STRGB.UL clients include Hewlett-Packard (HPQ.N), Microsoft Corp (MSFT.O), Dell Inc, Salesforce.com Inc (CRM.N), Western Digital Corp (WDC.O) and Nike Inc (NKE.N).The deal is expected to add 35 cents to profit, excluding items, in the first year after closing, Convergys said.The company reported per-share earnings of 86 cents for the year ended December 31, 2012. The combined company is expected to exceed $3 billion in revenue, said Convergys, whose top customers include AT&T Inc (T.N) Comcast Corp (CMCSA.O) and…
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