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Eye on banking & telecom clients, Aegis may bid for Satyam BPO
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Eye on banking & telecom clients, Aegis may bid for Satyam BPO
"Satyam BPO`s international clients and its presence in telecom, banking and financial services make it an attractive target," said one person familiar with the matter. A top Aegis executive, who asked not to be identified, confirmed that the firm was interested in acquiring Satyam BPO. When contacted by ET, the company said in a statement: "As a group, we constantly keep looking at growth opportunities . We would not like to comment on any specific transaction."
Aegis BPO`s planned approach to Satyam comes at a time various suitors are sizing up parts of the company, which has been in turmoil after its founder and former chairman B Ramalinga Raju admitted to a Rs 7,000-crore fraud which included inflating revenues and profits for years.
Satyam BPO, formerly called Nipuna Services, a wholly-owned arm of Satyam, has between 3,500 and 4,000 employees working for clients such as telecom firms BellSouth and Verizon, construction equipment firm Caterpillar and drugmaker GlaxoSmithKline.
It reported revenues of Rs 55.6 crore for the quarter ended September 2008, down 8.65% from the same quarter a year ago. Satyam BPO operates from delivery centres in Hyderabad, Bangalore and Chennai, apart from onsite delivery teams. Aegis BPO, which has revenues of around $450 million, has been on an acquisition spree, buying 11 companies in the last four years. In
August 2008, it bought Nasdaq-listed offshoring firm PeopleSupport for Rs 1,057 crore. The BPO firm has 30,000 employees in 31 locations worldwide.
Source:
http://economictimes.indiatimes.com/Aegis_may_bid_for_Satyam_BPO/articleshow/398