New Delhi: Global business process outsourcing firm WNS (Holdings) Thursday said it has acquired South Africa-based Fusion Outsourcing Services for about 10 million pounds.
The transaction is expected to be funded from cash on hand, with approximately half of the consideration paid at completion and the remainder payable in tranches before May 31, 2013, the company said in a statement.
With operations in Cape Town and Johannesburg, Fusion currently employs approximately 1,500 people.
"Expanding our global delivery footprint and entering emerging growth markets are key pillars of our investment strategy. We believe that establishing operations in South Africa addresses both of these objectives," WNS CEO Keshav Murugesh said.
He added WNS currently has several existing and prospective clients interested in having services delivered from South Africa.
"We view this growing economy as an exciting end-market user of global BPO services, especially in the areas of finance and accounting and insurance-specific services," Murugesh said.
The acquisition of Fusion shares from BFSL Limited, part of UK-based BGL Group of companies, is effective June 21, 2012, the statement added.
"We are proud of the solid foundation and reputation we have been able to build, and look forward to becoming an integral part of WNS?s global strategy going forward," Fusion Managing Director Johann Kunz said.
The acquisition is expected to contribute incremental revenue of USD 9 million - USD 10 million for WNS in fiscal 2013, it added.
First Published: Thursday, June 21, 2012, 23:13