MANILA, Philippines - Global outsourcing giant Teleperformance is expected to further strengthen its operations in the Philippines.
This after the company announced it is acquiring Aegis USA's outsourcing operations in the Philippines, United States and Costa Rica from Essar Global Fund's AGC Holdings for $610 million.
Aegis USA's business represents total annual revenue of $400 million and more than 19,000 full time employees across 16 centers in the three countries. The company serves clients in the US market in healthcare, financial services and travel.
"We look forward to partnering with our new clients upon the closing of the transaction. We want to ensure them that the entire consolidated team is committed to serving them with dedication, professionalism and passion. We also want to thank them in advance for giving us the opportunity to become their loyal service providers," Daniel Julien and Paulo César Salles Vasques, respectively Executive Chairman and Chief Executive Officer of Teleperformance, said in a statement.
Teleperformance is currently one of the biggest BPO companies operating in the Philippines, with more than 12,500 workstations from 11 business sites located across Metro Manila, Antipolo, Bacolod, Cebu and Davao.
The Teleperformance executives said the deal would boost the company's market share in the US.
"We will significantly strengthen our presence in the healthcare, financial services, travel and hospitality verticals in the US, thereby continuing to accelerate the diversification of our business portfolio... The deal will create immediate value for Teleperformance shareholders as it will be accretive to earnings per share by above 10% starting from 2015, with consolidated EBITA margin exceeding 10%," they said.
After the transaction, Aegis said it will still retain the rest of its BPO business in India, Sri Lanka, Malaysia, Australia, South Africa, Peru, Argentina, Saudi Arabia and UK with more than 37,000 employees.