Aegis Acquires Argentina's Actionline

October 20 2010
Aegis, a global outsourcing services company, has entered into an agreement with Y&R Inversiones
Publicitárias, S.A. to fully acquire their jointly held business process outsourcing (BPO) company
Actionline in Argentina. Actionline is one of the largest BPOs in Argentina, with about 5,000 associates,
spread across seven centers in five cities. It is focused on the domestic market, serving leading telecom,
banking, insurance, and energy clients in the region. Founded in 1994, Actionline has been registering a
compounded annual growth rate of 65% from 2003–2009. Actionline, one of the largest BPOs in
Argentina, marks the 16th acquisition for Aegis over the last five years.
http://www.vccircle.com/500/news/aegis-acquires-argentinas-actionline

Hinduja Global Acquires UK-based BPO Firm

June 21 2010
Outsourcing service provider Hinduja Global Solutions Limited (HGSL) has,through its European
subsidiary, acquired 100% stake in UK-based customer relationship management company, Careline
Services. Careline Services is a leading contact centre provider servicing more than 20 marquee
customers across verticals such as government, FMCG, financial services, automobiles, Ttelecom &
retail. Established in 1997, it has over 1,000 employees across three sites in the UK, one in London and
two in Scotland. It handles in excess of 50,000 customer interactions every day across multiple channels
and in 14 languages. The CEO of Careline Services, the senior management team and key employees of
Careline Services will continue in their roles after the acquisition. This acquisition will act as a launch pad
for HGSL to enter the large UK and European markets and will also be a platform to cross sell its global
delivery model to Careline’s European client base. This is HGSL’s first acquisition in UK and it expects to
grow the business rapidly in the next few years.
http://www.vccircle.com/500/news/hinduja-global-acquires-uk-based-bpo-firm

Aegis eyes 5-6 buys in global markets

June 17, 2010
Aegis, the business process outsourcing (BPO) arm of the Essar Group, is working on a mix of organic
and inorganic strategies to reach the $1-billion revenue mark. After the recent acquisition of AGC
Networks, Aegis’s revenue is estimated to have reached around $700 million. The company’s headcount
has touched 40,000. MD & CEO Aparup Sengupta said the company is evaluating 5-6 companies in the
US, Latin America, Europe and Africa. “We are talking of at least four acquisitions a year. We are open to
any size of deal. It’s all very contextual — we have to find out the assets; evaluate them whether it
makes sense to acquire them or not. So, size is not the criterion, it’s about the economics and
sustainability and what it is that we are going to do with the asset.”
http://www.business-standard.com/india/news/aegis-eyes-5-6-buys-in-global-markets/398538/

Aegis says open to acquisitions in the domestic BPO segment

31 May, 2010
Essar Group's IT and BPO arm, Aegis, is open to acquisitions in the Indian BPO segment which would
help it grow rapidly in its core business, a top company official said. "We are open to both organic and
inorganic growth domestically. We would acquire an Indian BPO company if it is strategically significant
to us," Aegis' Managing Director and Global CEO, Aparup Sengupta, said here. Besides, Aegis is also
looking at strategic investments in Latin America and Africa, Sengupta said, adding the company
currently has 6-7 deals in the pipeline. "We are also venturing into Enterprise Global Shared Services (E-
Gloss) in a big way. Here too, we are open to both organic and inorganic way in this arena too," he said.
The company plans to acquire four companies every year as a part of its growth strategy, he said.
http://economictimes.indiatimes.com/infotech/ites/Aegis-says-open-to-acquisitions-in-the-domestic-
BPO-segment/articleshow/5995054.cms

Essar To Buy 59.13% In Avaya Unit For Rs 206Cr

June 01 2010
In yet another instance of consolidation in the BPO space, diversified Essar Group is acquiring majority
stake in the India unit of global BPO firm Avaya Inc for around Rs 206.3 crore. The target, AGC Networks
Ltd, is an enterprise communication solution firm, and is part of listed Avaya GlobalConnect Ltd. Essar is
already a dominant player in the BPO space with its unit Aegis Ltd, an acquisition-savvy firm which has
concluded over a dozen deals. Avaya’s unit AGC is a provider of intelligent communications (IC)
solutions focused on large and mid-sized enterprises across several industry verticals. With 500
employers in its fold, its services are used to accelerate revenue growth, increase market penetration,
optimize operating costs and improve employee productivity.
http://www.vccircle.com/500/news/essar-to-buy-5913-in-avaya-unit-for-rs-206cr

Aegis Buys US Firm Sallie Mae's Customer Service Centre

May 20 2010
Aegis Ltd, the business process outsourcing arm of Essar Group, is acquiring a customer service center of
US-based Sallie Mae, an education finance service provider listed on the New York Stock Exchange.
Aegis has already signed an agreement with the company for the acquisition, it said in a statement. The
financial terms of the transaction were not disclosed. Sallie Mae is Virginia-based company and is
claimed to be the biggest student loan provider in America. Through its subsidiaries, the company
manages $182 billion in education loans and serves 10 million student and parent customers. For Aegis,
the acquisition was part of the company’s plan to strengthen its presence in the US market. With this,
Aegis got 350 new employees in its fold. The agreement will be effective from June 4.
http://www.vccircle.com/500/news/aegis-buys-us-firm-sallie-maes-customer-service-centre

Aegis puts on hold India listing; plans to buy 3 firms instead

May 08, 2010
Aegis Limited, the business process outsourcing (BPO) arm of the Essar Group, has put on hold its plans
to list on the Indian bourses. Instead, the company is planning to acquire at least three companies —
two overseas and one in India.
http://www.business-standard.com/india/news/aegis-putshold-india-listing-plans-to-buy-3-firms-
instead/394178/

Essar BPO arm Aegis plans IPO

21 Jan, 2010
Aegis, part of the Essar group and one of the country's top business process outsourcing (BPO)
companies is planning its initial public offering (IPO) to raise about Rs 700 crore. This would be the first
IPO from the group in 15 years. Group company Essar Oil was the last to hit the market in 1995.
According to sources close to the development, the estimated $600 million company, which employs
around 40,000 people, has been valued at around $1.6 billion. It is learnt to be talking to at least three
merchant bankers for handling the issue. The IPO will be a fresh issue of shares and the Ruias will not
offload any stake. The Rs 65,000-crore Essar group is not only interested in unlocking value through the
Aegis IPO, it also plans to use this ‘‘as a currency'' for future mergers and acquisitions that it is said to be
looking at.
http://economictimes.indiatimes.com/markets/ipos/Essar-BPO-arm-Aegis-plans-
IPO/articleshow/5482863.cms
Essar may merge arm with BPO unit
14 Oct, 2009
The Essar group is considering merger of Essar Information Technology Holdings (EITH), which provides
common services operations across the group, with its BPO firm Aegis. The diversified Essar group
formed EITH three years ago to consolidate common functions such as finance and accounting (F&A),
human resources (HR), and payroll to its business arms in steel, oil, shipping, power, telecom and retail.
The merger will help Aegis diversify into areas such F&A, HR and payroll, as well as bring industry-
specific knowledge within the company. It will also help Aegis get a higher valuation when it goes public.
The Ruias of the Essar group have, at various forums, hinted that they eventually hope to take their BPO
business public. Aegis CEO and MD Aparup Sengupta confirmed the merger move.
http://economictimes.indiatimes.com/Essar-may-merge-arm-with-BPO-unit/articleshow/5121837.cms

Aegis acquires Sri Lankan BPO firm

6 Oct, 2009
The Essar group-promoted BPO firm, Aegis, has acquired 80% stake in Ismart – Timex, a leading BPO
services provider in Sri Lanka, for an undisclosed sum. The acquisition has been done through Essar
Services Holdings, the holding company of Aegis. This is Aegis' 14th acquisition. “Ismart Timex is one of
the largest BPO service providers in Sri Lanka and we expect it to grow exponentially to more than
double in voice, back office, especially F&A (finance & accounting) in the next one year. This acquisition
adds a new geography in the Aegis spectrum of outsourcing solutions and expands its global footprint to
cover Sri Lanka,” said Aparup Sengupta, MD and CEO, Aegis Limited.
http://economictimes.indiatimes.com/Aegis-acquires-Lankan-BPO-firm/articleshow/5091697.cms