Essar Global Fund Limited (“Essar Fund”) announced that it has completed the sale of Aegis USA Inc. (“AUI”), a major outsourcing company in the United States, the Philippines and Costa Rica to Teleperformance through AGC Holdings Limited (“Aegis”), a wholly owned portfolio company of Essar Fund.
Aegis will retain and continue to grow the remainder of the BPO business globally across India, Sri Lanka, Malaysia, Australia, South Africa, Peru, Argentina, Saudi Arabia and the UK.
Uday Gujadhur, Board Member, Essar Capital Limited, fund manager for Essar Global Fund Limited said “We would like to announce the successful completion of sale of AUI. Essar entered the BPO business through the acquisition of Aegis Communications Group, USA in 2004 and has since then contributed significantly to the development of Aegis’ business in the USA, the Philippines and Costa Rica. The transaction fits Essar Fund’s strategy of building world class businesses and actively managing the portfolio of assets to deliver value. Teleperformance is a leader in multi-channel customer experience management and this transaction emphasizes the value that Essar and the AUI management team together have created in building a high-quality business with a strong market position. It also creates an exciting future platform for AUI customers, employees and stakeholders.”
The AUI transaction, which represents revenue of US$ 400 million and has more than 19,000 full time employees across 16 centers in three countries, was originally announced on July 9, 2014.