London: Indian conglomerate Hero Group has acquired Scotland’s biggest call centre firm Telecom Service Centers (TSC) for an estimated $81 million, UK media reports say.
Following the deal, TSC, which has more than 3,000 employees, would be merged with HeroITES — a call centre subsidiary of Hero Group. The new entity would be known as TSC Hero.
According to UK daily Financial Times, the deal would enable the merged business to offer customers a multi-site solution, increasing its market potential and growth prospects in its core markets of Europe, Asia and the US.
“We firmly believe there are aspects of the industry that can be handled offshore and we already have experience of working relationships with companies in India and South Africa. Now we will be able to offer a greater offshore capability which will be actually be part of the company and managed by the TSC team,” Chief executive of TSC Ken Hills told FT.
Founded in 1994, the clients of TSC include Vodafone, Hewlett-Packard and HSBC.
The Gurgaon-based HeroITES offers outsourcing services in the voice support, email services, technical support, finance and accounting BPO.
The HeroITES deal marks the end of the involvement of LDC, the mid-marker private equity firm that provided investment for growing the TSC business in 2003, as per a report in another UK daily Telegraph.
It added that HeroITES would not be the first Indian outsourcing firm to run UK-based operations. Both HCL and First Source have large contact centres in Belfast, employing thousands of staff.