TCS sells Sitel stake for $17.732 mn

NEW DELHI: Tata Consultancy Services (TCS) will transfer the ownership of 40 per cent stake in global BPO firm Sitel India to US-based Sitel Corp. for a consideration of $17.732 million.

TCS said in a statement that it has concluded an agreement with Sitel to transfer the ownership.

Sitel India is a joint venture between the Tata Group and Sitel Corp, formed in 2000, with both parties holding 50 per cent of the equity.

Tata International Limited, which holds a 10 per cent stake in the JV, has also agreed to sell its stake.

This joint venture company provides voice-based contact center BPO services from India. With over 4,000 professionals, the JV is a provider of fully integrated customer care and back office processing services operating from five centers in India.

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