Essar Group’s BPO outfit Aegis BPO Services has entered into a definitive agreement to acquire the Bangalore-based call center operations of AOL, a subsidiary of Time Warners. The financial terms of the acquisition were not disclosed; sources cited the deal to be worth USD 25–30 million. The transaction is likely to be completed by end-April 2008. According to the acquisition, Aegis will deliver customer service and technical support to AOL clients. Post-acquisition, about 1,200 AOL employees in India will be transferred to Aegis. Through the transaction, Aegis will be able to improve its voice and non-voice offerings in the technology support segment as well as expand its business in India. Further, the transaction will assist AOL to focus on its core operations. Headquartered in India, Aegis is a BPO services provider with annual revenues of about USD 200 million. Its clients include American Express, AT&T, Humana, Western Union, Vodafone, and a host of other blue chip companies. The company has 25 delivery facilities across the US and India. Following this acquisition, Aegis’ headcount will moves from 19,000 to over 20,000.

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