Aegis to acquire Australian BPO UCMS for A$454 million

15 May 2009

Mumbai: Aegis BPO Services Australia Pty Limited, the Australian affiliate of Mumbai-based Essar Group's BPO arm  has signed a definitive agreement to to acquire the entire equity of Australian contact centre and customer relations specialist UCMS Group Limited, in an all-cash transaction for approximately A$54 million (Rs204 crore).
The transaction is not subject to any financing conditions.

Aegis said that though this deal had been approved by the board of directors of both companies,  the transaction is subject to several conditions, including UCMS shareholder approval, approval by the Supreme Court of Victoria and certain other customary closing conditions. It expects to close the transaction in the third quarter of 2009. 

Under the terms of the agreement, Aegis will pay UCMS stockholders $0.98 per share in cash through Aegis BPO Services Australia Pty Limited, representing a premium of 133 per cent over the UCMS's closing price of $0.42 yesterday, 14 May 2009, the last trading day prior to the announcement.

Aegis is one of the fastest growing BPO companies globally with annualised revenues of approximately half a billion dollars.

On completion of the deal, Aegis says it would become a leader in the rapidly growing global BPO market with operations in India, the Philippines, the United States, Costa Rica, Kenya and now Australia.

"This is a great opportunity for the UCMS Group to be a part of a global ecosystem in BPO services with Aegis." said Aparup Sengupta, global CEO and managing director of Aegis Limited. "We believe that the business combination will enhance value for customers and employees. Aegis is well positioned for growth and geographic expansion as we deliver on our mission to become a leader in the global BPO market."