Aegis completes acquisition of UCMS

Started by sajiv, Aug 12, 2009, 02:43 AM

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Aegis completes acquisition of UCMS

New Delhi: Essar Group's business process outsourcing unit Aegis on Tuesday said it has successfully completed the acquisition of Australian BPO firm UCMS Group for (AU$54 million) Rs200 crore.

In May this year, Aegis, through affiliate firm Aegis BPO Services Australia Pty Ltd signed a definitive agreement to acquire all shares of UCMS Group through an all-cash transaction, with an aggregate equity value of AUD 54 million.

In a statement, Aegis said it acquired all of the shares of UCMS through the cash transaction and had received all the necessary approvals.

Aegis paid UCMS stockholders AU$0.98 per share in cash through Aegis BPO Services Australia, it added.

Aparup Sengupta, chief executive officer and managing director of Aegis Ltd, said, "Australia and New Zealand are an integral part of our growth strategy and the integration with UCMS offers us an opportunity to consolidate our presence in this region. The Aegis-UCMS combined entity will offer clients an extended set of solutions and services from a broader geographic delivery platform."

He further said the company intends to grow in Australia by adding 1500-2000 people.

With the completion of this transaction, Aegis now has operations in India, the Philippines, the United States, Costa Rica, Kenya, South Africa and Australia.

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