The Ruias of Essar, who are on an acquisition spree, have now turned their attention to Sri Lanka. The Essar Group’s business process outsourcing (BPO) arm Aegis Ltd has announced the acquisition of 80 per cent holding in Sri Lankan BPO service provider Ismart – Timex Pvt Ltd for an undisclosed amount. Ismart is a company with 500 seats.
The balance 20 per cent would continue to be with the selling shareholders called Timex Garments. This acquisition has been done through Essar Services Holdings, the holding company of Aegis and this is Aegis’s 14th acquisition.
“This acquisition adds a new geography in the Aegis spectrum of outsourcing solutions and expands its global footprint to cover Sri Lanka. Aegis will now offer services from 35 delivery centres across the world,” said Aparup Sengupta, MD and CEO of Aegis.
Aegis has expanded its footprint with operations in India, the Philippines, the US, Costa Rica, Kenya, South Africa, Australia and now Sri Lanka.
With more than 39,000 employees globally, Aegis is meeting complex right-shoring requirements for large enterprises.