Aegis BPO acquires TeleTech for $13 mn

MUMBAI: Business conglomerate Essar group's subsidiary Aegis BPO has acquired TeleTech Services (India) Ltd, a 50:50 joint venture of TeleTech Europe BV and Bharti Ventures, for around $13 million. For Aegis BPO, which has been on an acquisition spree, this is the seventh takeover in the last two-year period.

"This acquisition is much in line with our strategy of growing our telecom business, the largest contributor to our revenues at over 40 per cent. We expect revenues of around $15 million in the first year itself from the acquisition, Aegis BPO Managing Director and CEO Aparup Sengupta said.

This is also in line with our plan to become a $500 million firm in the next two-year period. The company has been posting an average growth of around 44 per cent during the past three years, with banking, financial services and insurance (BFSI) segment being the second largest contributor with over 20 per cent, he said.

TeleTech India, formed in 2003, has two centres in Gurgaon (near Delhi) and employs over 3,000 personnel. Aegis employs around 9,000 people in India and the US, and has revenues of over $150 million.

Aegis BPO is now looking at foray into South-East Asia and Europe by way of acquisitions and partnerships.

The company had earlier acquired Canada's Genesis Media and French sales promotion and direct marketing agency Implicom.