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October 4, 2009

Aegis acquires Ismart Timex

Expands its global footprint to cover Sri Lanka

By CBR Staff Writer

Aegis, a global business process outsourcing (BPO) provider and part of Essar Group, has acquired of 80% shares of Ismart Timex, a BPO services provider in Sri Lanka. The balance 20% continues to be held by the selling shareholder, Timex Garments. This acquisition was done through Essar Services Holdings, the holding company of Aegis.

Aegis has expanded its global footprint with operations in India, the Philippines, the US, Costa Rica, Kenya, South Africa, Australia and now Sri Lanka. With more than 39,000 employees globally, Aegis delivers right-shoring requirements for large enterprises.

The company said that the acquisition helps to expand its global footprint to cover Sri Lanka. Aegis will now offer services from 35 delivery centers across the world.

Aparup Sengupta, managing director and CEO of Aegis, said: Ismart Timex is one of the largest BPO service providers in Sri Lanka and we expect it to grow exponentially to more than double in voice, back office, and especially F&A in the next year.

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“This acquisition reinforces Aegis’ leadership position as a Customer Lifecycle Management (CLM) company by delivering complete end-to-end CLM solutions.

Arshad Sattar, managing director of Ismart Timex, said: Sri Lanka has a rich talent pool for voice, back office and shared services business. Our focus on the full spectrum of CLM services will continue and our value proposition is now stronger as we expand our industry and process expertise, service offerings and global delivery platform.

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