BANGALORE: Aegis BPO, part of the Essar Group, is buying Nasdaq-listed offshore BPO provider PeopleSupport, in an all cash deal of $250 million through its Mauritius subsidiary Essar Services. The combined entity will have around 30,000 people and revenues of $500 million, making it India's biggest BPO after Genpact.
Under the terms of the agreement, Aegis BPO will pay PeopleSupport stockholders $12.25 per share, which represents a premium of about 29% over PeopleSupport's closing share price on August 1, and a premium of about 42% over the weighted average trading price of the company's shares during the previous 30 trading days.
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