Indian conglomerate group Essar is finalising a USD310m sale of its business process outsourcing (BPO) unit Aegis to Capital Square Partners in the next few days. This marks Essar Global’s complete exit from the BPO business after creating significant value through organic growth and strategic acquisitions that helped diversify customer offerings. Essar entered the BPO business in 2004 with the acquisition of the US-based Aegis Communications Group, with 2,000 employees. In 2014, Aegis sold its US, Philippines and Costa Rica operations to Teleperformance for USD610m. Currently, Aegis has revenues of around USD400m and employs more than 40,000 people across 47 centers in 10 countries.
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