Aegis BPO acquires Nasdaq listed PeopleSupport Inc firm
The Essar group on Monday said that its Aegis BPO has agreed to buy the Nasdaq listed PeopleSupport Inc firm for $250 million (Rs 1,057 crore). This will the eleventh acquisition of Aegis in past four years. The acquisition would result in revenues of $500 million and also employment for about 29,000 people.
Under the terms of the agreement, Aegis will pay shareholders of PeopleSupport $12.25 per share, a 29 per cent premium to the closing share price on August 1, 2008, said a joint statement from the companies. The company person also added that the deal will be funded through internal accruals of the Essar group.
The US company(PeopleSupport Inc) offers customer management, transcription and captioning and additional BPO services for global clients in areas such as travel, consumer, financial services, healthcare and others. It has three delivery centres in the Philippines and one in Costa Rica.