Aegis set to acquire South Africa’s CCN

Aegis set to acquire South Africa’s CCN
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First Published: Wed, Jul 08 2009. 09 22 PM IST
Updated: Wed, Jul 08 2009. 09 22 PM IST
Mumbai: The Essar group-owned Aegis Communications Inc. is set to acquire a 100% stake in Call Centre Nucleus (CCN), South Africa’s largest business process outsourcer, for around $50 million (Rs244.5 crore).
CCN is a privately held firm in which Lawrence Brick, Paul Bacher and J. Hackner together hold a 70% stake. Ziphathe Empowerment Network, an economic empowerment group, holds a 26% stake and the rest is owned by an employee trust.
CCN had a revenue of nearly $19 million and profit of around $2 million in the previous fiscal.
The acquisition of CCN gives Aegis access to 1,000 seats spread across four facilities in South Africa’s Gauteng province.
“As a group, we keep looking at growth opportunities. However, it is not our policy to comment on any specific issue,” an Aegis spokesperson said.
The buyout is the 12th acquisition Aegis has made in the past few years. In May, it acquired Australia’s UCMS for around Rs200 crore. In October, it acquired PeopleSupport for Rs1,057 crore.
cnbctv18@livemint.com
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First Published: Wed, Jul 08 2009. 09 22 PM IST