The Ruias who run as Essar, long seen as big players in the manufacturing-oriented “old economy,” have quietly built up a strong presence in the new economy. That showed up more on Monday as the group’s business process outsourcing (BPO) arm Aegis Ltd announced the setting up of a technology services company which would invest $100 million — Rs 480 crore — over the next 12 months.
The new company called Aegis Tech Ltd will be a global provider of outsourcing services and will have over 500 people to start with. Notably, while companies like Infosys and Wipro have moved from software-driven IT towards BPO, for Aegis, it is the other away around. The employee base is expected to reach over 1000 in the next 12 to 18 months through new hires and acquisitions, company officials said.
“Aegis Tech will work closely with the existing customers to offer end-to-end solutions. This synergy will deliver more value to our existing and prospective customers,” said Aparup Sengupta, Aegis Ltd’s managing director and Global CEO, Aegis Ltd. SK Jha as President will lead the new company.