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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.

Indian Market News, Market Gossip, news Acquisition, Aegis BPO, BSE, Essar, Indian Market, NSE, peoplesupport Inc, Stock Market

Continuing their acquisition ride, TATA sons acquired Ford’s Land Rover and Jaguar brands.

Even the markets gave the thumbs down to stock price and the stock was down more than 10% and closed at 679. The company feels that it has made the right decision by buying out the Ford brands and that it will boost the companies performance in the long run.

This was be an all cash deal and TATA’s have paid $2.43b

Investors with long term view can invest in the stock.

Uncategorized Acquisition, Ford, Jaguar, Land Rover, tata