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THE acquisition of business process outsourcing (BPO) firm
PeopleSupport Inc. by an Indian company would be a done deal in
October this year, according to Rainerio Borja, president of
PeopleSupport Philippines.
“The transaction would be completed by the
second week of October,” Borja said.
Aegis BPO, which belongs to Indian conglomerate
Essar Group, in August bought PeopleSupport Inc. for $12.50 a share,
or a total of $250 million.
Once the deal is completed, PeopleSupport would
be delisted and the merged company would be called Aegis
PeopleSupport.
“By mid-October, PeopleSupport is a private
company again,” Borja said.
PeopleSupport went public in the US’ Nasdaq in
October 2004.
The companies have already fulfilled US
Securities and Exchange Commission and Fair Trade Act regulatory
requirements, ensuring completion of the merger, Borja said.
He added that the board of directors of both
Aegis BPO and PeopleSupport have unanimously agreed to the terms of
the deal.
Borja assured that all PeopleSupport employees
would be retained by the new management.
“It is an additive merger,” he said of deal.
According to Aegis BPO, their purchase of
PeopleSupport would expand the Indian BPO firm’s operations in the
Philippines and Costa Rica, where PeopleSupport currently has sites,
and in India and the US.
--Ben Arnold O. de Vera
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