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Article: Aegis buys 80% of Lankan BPO firm
- Article from:
- The Hindustan Times
- Article date:
- October 6, 2009
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Mumbai, Oct. 5 -- 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 ...