Essar Group's back office unit Aegis said it will augment its global workforce by 12,000, summing up the total headcount to 43,000, by end of this fiscal. The company plans to hire 1,000 people every month in India and across United States, Philippines, Costa Rica and Africa where it has operations.
"We will be recruiting a thousand people every month, so this year we will add 12,000 to our workforce globally. We have already hired 3,000 people since the beginning of this fiscal," Aegis Ltd managing director and Global CEO Aparup Sengupta said.
"The Ruias-led company has earmarked a capital expenditure of $30-35 million this year, excluding cost on infrastructure," he said. Despite the global downturn, Aegis is eyeing a turnover of over $550 million and aims to grow by over 50% in 2009-10. "There is still an opportunity for outsourcing," Sengupta said.
Agencies
Showing posts with label Essar Group. Show all posts
Showing posts with label Essar Group. Show all posts
Friday, June 5, 2009
Friday, May 15, 2009
Will Aegis Buy Australia's UCMS Group?
Essar Group's back office arm Aegis Ltd has agreed to buy Australian business process outsourcing firm UCMS Group Ltd in a cash deal worth about A$54 million, the firms said in a statement on Friday.
Aegis, through affiliate firm Aegis BPO Services Australia Pty Ltd, will pay UCMS stockholders A$0.98 per share, a 133 percent premium over Thursday's closing price of A$0.42 per share, they added in the joint statement.
"Australia and New Zealand logically become a part of our growth strategy and offer an opportunity for Aegis to expand its footprint in this geography," said Aparup Sengupta, global chief executive officer and managing director of Aegis. The transaction is expected to close in in the third quarter and is subject to approvals from shareholders and the Supreme Court of Victoria and other customary closing conditions, they added.
With this acquisition, Aegis will have operations in India, Philippines, the United States, Costa Rica, Kenya and Australia. Last year, Aegis acquired outsourcing firm PeopleSupport Inc.
Agencies
Aegis, through affiliate firm Aegis BPO Services Australia Pty Ltd, will pay UCMS stockholders A$0.98 per share, a 133 percent premium over Thursday's closing price of A$0.42 per share, they added in the joint statement.
"Australia and New Zealand logically become a part of our growth strategy and offer an opportunity for Aegis to expand its footprint in this geography," said Aparup Sengupta, global chief executive officer and managing director of Aegis. The transaction is expected to close in in the third quarter and is subject to approvals from shareholders and the Supreme Court of Victoria and other customary closing conditions, they added.
With this acquisition, Aegis will have operations in India, Philippines, the United States, Costa Rica, Kenya and Australia. Last year, Aegis acquired outsourcing firm PeopleSupport Inc.
Agencies
Saturday, March 7, 2009
Is IBM also in the race to buy Satyam?
Global IT giant IBM is learned to be leading the list of prospective buyers of beleaguered Satyam Computer Services. If the plan fructifies, IBM would become the largest IT services player in India with a combined employee strength of over 125,000 people.
According to sources close to the development, IBM officials has begun discussions with Satyam board and expressed its desire to acquire a majority stake in the company. Moreover, a team of investment bankers and lawyers from the U.S. and Europe has been brought in to assess the size of the deal and the risks associated with it. It is also believed that IBM has conducted an initial due diligence on some of Satyam's major customers.
Making easy entry for foreign players, Minister of Corporate Affairs P C Gupta had said a week ago that open bids would not be restricted to Indian players. IBM was named one of the hostile bidders for Satyam at the company's meeting in the last December. Apart from IBM, other prominent companies in the race are Larsen & Toubro (L&T), which owns 12 per cent in Satyam, and B K Modi-owned Spice group.
The government-nominated board is expected to invite bids for a 31 per cent stake in the company, but is likely to assure the successful bidder 51 per cent even if it fails to get the additional mandatory 20 per cent from the open offer.
Analysts foresee that if IBM can buy Satyam, that can give IBM the leverage to compete with Indian IT service providers as Satyam has a low-cost structure.
Agencies
According to sources close to the development, IBM officials has begun discussions with Satyam board and expressed its desire to acquire a majority stake in the company. Moreover, a team of investment bankers and lawyers from the U.S. and Europe has been brought in to assess the size of the deal and the risks associated with it. It is also believed that IBM has conducted an initial due diligence on some of Satyam's major customers.
Making easy entry for foreign players, Minister of Corporate Affairs P C Gupta had said a week ago that open bids would not be restricted to Indian players. IBM was named one of the hostile bidders for Satyam at the company's meeting in the last December. Apart from IBM, other prominent companies in the race are Larsen & Toubro (L&T), which owns 12 per cent in Satyam, and B K Modi-owned Spice group.
The government-nominated board is expected to invite bids for a 31 per cent stake in the company, but is likely to assure the successful bidder 51 per cent even if it fails to get the additional mandatory 20 per cent from the open offer.
Analysts foresee that if IBM can buy Satyam, that can give IBM the leverage to compete with Indian IT service providers as Satyam has a low-cost structure.
Agencies
PayMate takes giant stride in retail segment
In what is probably the largest deployment of mobile payments at the retail level, PayMate, one of India's leading mobile commerce companies, will offer comprehensive Point of Sale solutions (E-POS) across MobileStore's 1,300 stores in over 200 cities.
The service will allow MobileStore customers to pay for their purchases, recharge talk-time and even buy or send gift vouchers instantly and securely via the mobile. The MobileStore is a part of the Essar Group.
Ajay Adiseshann, founder & managing director, PayMate, said, "The MobileStore's reach across 200 cities will act as a catalyst to help us popularize mobile payments rapidly and effectively."
With PayMate's mobile payment platform, customers shopping at The MobileStore can link their credit card to their mobile phone and thereafter make payments on their mobile over an instant auto-IVR call-back, without having to share any further details.
Once registered on PayMate, customers can do retail shopping, online purchases, utility bill payments, etc at over 15,000 PayMate accredited merchants via the mobile.
Rajiv Agarwal, CEO & Director, The MobileStore, said, "We are constantly innovating and concentrating efforts to enhance the shopping experience for our customers. With the increasing penetration of cell phones, mobile commerce is set for tremendous growth over the coming years."
Additionally, The MobileStore will also sell GiftMate vouchers (PayMate's pre-paid mobile voucher) and remote mobile top-up via PayMate's consolidated interface. This means PayMate registered users and GiftMate users can top-up their pre-paid mobile anywhere, anytime over an instant auto-IVR call back.
CXOtoday.com
The service will allow MobileStore customers to pay for their purchases, recharge talk-time and even buy or send gift vouchers instantly and securely via the mobile. The MobileStore is a part of the Essar Group.
Ajay Adiseshann, founder & managing director, PayMate, said, "The MobileStore's reach across 200 cities will act as a catalyst to help us popularize mobile payments rapidly and effectively."
With PayMate's mobile payment platform, customers shopping at The MobileStore can link their credit card to their mobile phone and thereafter make payments on their mobile over an instant auto-IVR call-back, without having to share any further details.
Once registered on PayMate, customers can do retail shopping, online purchases, utility bill payments, etc at over 15,000 PayMate accredited merchants via the mobile.
Rajiv Agarwal, CEO & Director, The MobileStore, said, "We are constantly innovating and concentrating efforts to enhance the shopping experience for our customers. With the increasing penetration of cell phones, mobile commerce is set for tremendous growth over the coming years."
Additionally, The MobileStore will also sell GiftMate vouchers (PayMate's pre-paid mobile voucher) and remote mobile top-up via PayMate's consolidated interface. This means PayMate registered users and GiftMate users can top-up their pre-paid mobile anywhere, anytime over an instant auto-IVR call back.
CXOtoday.com
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