Essar Group-owned Aegis Ltd, a business process outsourcing (BPO) provider, has announced the acquisition of South Africa-based CCN Group PTY Ltd for around Rs 150 crore.
Essar would invest close to Rs 288 crore ($60 million) in the next three years in CCN. The company sources said about 50 per cent of this would be the cost of acquisition.
"This is a step towards our commitment to creating 5,000 jobs in South Africa over a period of time," said Aparup Sengupta, Global CEO and Managing Director of Aegis Ltd, in a statement.
CCN, which services sectors such as telecom, hospitality, financial service and automotive, is the largest privately owned call centre-based outsourcing company in South Africa, said a release from Essar. The company reported revenues of $19 million (Rs 91 crore) for the financial year 2009.
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For Aegis, this would be the 12th acquisition. It acquired PeopleSupport Inc, a Nasdaq listed outsourcing firm in October 2008. The next acquisition, that of UCMS in Australia, is still awaiting regulatory approval for closing, said the company release.
With more than 33,000 employees globally, Aegis services several companies worldwide in the telecom, banking, financial services, insurance, healthcare, and travel verticals.
