New Delhi, Nov 08: The Essar group in collaboration with Deutsche Bank has acquired 80 per cent stake in the US-based mid-size call centre company, Aegis Communications Group, for about $28m.
The acquisition is the Essar Group’s second in the BPO business after the purchase of eTelequest of US.
The acquisition cost will be shared by Essar and Deutsche equally. The transaction is structured in a combination of equity, debt and warrants. Sources said while Essar will be the strategic partner, Deutsche Bank will remain a financial partner in the company. The acquisition is learnt to part of Essar’s plans to get into the call centre business in a big way. The group is learnt to be eyeing mid-sized call centre companies in India as well, though no deal has been finalised yet.
It acquired eTelequest, a 400-seater call centre company, last year has been on the lookout for more acquisitions in this sector. A US presence is required for Indian companies targeting to bag lucrative BPO deals in the US and European markets. Bureau Report