The Essar group’s business process outsourcing (BPO) firm Aegis Ltd is set to acquire Australia’s UCMS Group, listed on the Australian Stock Exchange, in a 54 million Australian dollar (Rs 200 crore) deal , giving the Indian company a wider global footprint.
Aegis said in a statement that on completion of the transaction, Aegis, which has 33,000 employees, will become a global leader with operations in India, the Philippines, the United States, Costa Rica, Kenya and Australia.
Aegis has a steady history of acquisitions in the last four years, including its acquisition in October 2008 of PeopleSupport, Inc., a NASDAQ listed outsourcing firm.
Aegis has agreed to pay UCMS stockholders 0.98 Australian dollars (Rs 36.47) per share in cash, which represents a premium of 133 per cent over closing price of UCMS on 14th May.
“This is a great opportunity for the UCMS Group to be a part of a global ecosystem in BPO services with Aegis,” said Aparup Sengupta, Global CEO and Managing Director, Aegis.
“We believe that the business combination will enhance value for customers and employees. Aegis is well positioned for growth and geographic expansion as we deliver on our mission to become a leader in the global BPO market,” he added.
“ Our solutions bring compelling value to an organization and Aegis’s leadership and market strength can take UCMS to the next level of excellence,” Denice Pitt, Chief Executive Officer, UCMS said.