New Delhi: Aiming to expand its footprint in Southeast Asia, China, Korea and Japan, the USD 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 but also help it to expand its operations in China, Japan and Korea, the source added.
Besides, Aegis will also get over 1,000 professionals and more expertise in telecom and BFSI verticals.
Aegis CEO Sandip Sen had earlier told PTI that the firm is scouting for companies in Indonesia and Malaysia for acquisition.
"If there is a particular skill set we need or if there is a particular geography which is very important, that we don't have. We certainly are willing to look at it," he had said.
Mumbai-based Aegis has presence in 56 locations across 13 countries with more than 55,000 employees, of which around 20,000 are based in India.
The firm, which is a private entity, has revenues of over USD 1 billion of which 80 percent comes from BPO business, while, the remaining comes from its technology business.
Aegis manages over a billion customer interactions every year for over 300 clients across verticals like BFSI, telecom, healthcare, travel & hospitality, consumer goods, retail and technology.
First Published: Sunday, January 19, 2014, 14:56