Aegis BPO, an Essar Group company, today announced that it has signed share purchase agreements to acquire TeleTech Services (India) Limited, a joint venture of TeleTech Europe B.V. and Bharti Ventures Limited. The estimated value of the acquisition is USD 13 million.

This acquisition will catapult the USD 188-million Aegis to a leading position among India-based players in the business process outsourcing (BPO) market.

Aegis has achieved a compounded annual growth of 44% in the last three years and expects revenues of US$ 500 million over the next two years. Aegis will have footprint in Europe, South East Asia besides India and United States of America.

This is the seventh acquisition in the last two years by Aegis, and the company has successfully integrated and grown diverse portfoilo of practices across clients segments and continents. This acquisition brings Bharti Airtel, India’s largest mobile company into the growing portfolio of Aegis customers.

Commenting on the acquisition Aparup Sengupta, CEO & Managing Director of Aegis BPO, said: “We are delighted with this acquisition as this is a perfect fit for Aegis. It is in line with our strategy of growing the business in India in our chosen segment. This is a great win for Aegis.”

Aegis, which was ranked among India’s premier BPO companies by separate Dataquest and NASSCOM surveys earlier this year, employs more than 14,000 people across 23 centres worldwide. It serves some of India’s leading companies in the telecom, retail, banking and insurance sectors, as well as Fortune 500 clients in the USA.

Aegis BPO
Aegis, the BPO arm of Essar Global Limited, caters to Fortune 500 clients across a multitude of verticals across Telecommunications, Banking and Finance, Energy, Pharma & Healthcare, Education and Logistics. It is one of the pioneers of the global delivery model in India and also spearheaded the domestic BPO operations in the country. Aegis specialises in end-to-end customer life-cycle management and has developed deep expertise in creating value for several Fortune 500 clients over the last two decades.

About Essar Global
Essar Global is an international conglomerate operating in six business areas – steel, oil & gas, power, communications, shipping & logistics and construction. It has offices world-wide and employs approximately 20,000 people, including over 3500 persons in the United States. The group has an enterprise value of approx. USD 20 billion.