| GE, Hero Group, Dalglen, Dell, Infosys, Udaipur, PeopleSupport, NCO, Aegis |
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| Thursday, 20 December 2007 | |
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GE sells 8 m Genpact shares for $100 m GE has sold 8 m shares of Genpact at $12.5 per share. It held a 23% stake in Genpact, which has reduced to 18.8% after the sale. As per a lockup agreement the shares were sold privately to Genpact's other shareholder. Hero Group acquires UK based Dalglen Hero Group has bought UK based Dalglen for $82 m in a bid to expand globally. It will now have clients in financial services, telecom, IT, retail, utilities and consumer durables sectors. Dalglen has an annual growth rate of 15%, with revenues for 2007 at $112 m. It has 3000 employees in nine sites across UK. Dell likely to sell its BPO business Intelenet, Blackstone, Wipro and Accenture have shown interest to acquire Dell's non-US BPO business, rumoured to be on sale. Dell has denied intentions of selling the unit. The business with contact centres in India, Philippines, South America and Canada is worth over $3 b. Infosys BPO to start knowledge center in Udaipur Infosys BPO has stated intention of starting a knowledge center at Meera College in Udaipur. It is also developing a new campus at the Jaipur SEZ. The company plans to further strengthen its position in Rajasthan. PeopleSupport rejects acquisition proposal of IP Ventures Group PeopleSupport has rejected IP Ventures Group (IPVG) offer for purchase. The offer of $355 m, or $15 per share has been termed as inadequate by IPVG. For the Fiscal ending Dec 2007, PeopleSupport expects revenue between $180-$190 m. NCO Group to acquire Outsourcing Solutions for $325 m NCO Group Inc has agreed to buy Outsourcing Solutions Inc for $325 m. The deal will help NCO to increase its service offerings and add to earnings. Aegis in an acquisition spree, aims to be worth $500 m by 2010 Aegis BPO is looking at acquisition in US, South America and Philippines in an attempt to become a $500 m firm by 2010. It is currently in discussions with 7-10 companies. The acquisitions will be based on the IRR of the target firm. Aegis has a CAGR of 45%. Related Items: |
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Outsourcing revenues from the Indian banking industry are estimated at Rs. 4 b for FY08