Aegis Ltd, the business process outsourcing arm of Essar Group, is acquiring a customer service center of US-based Sallie Mae, an education finance service provider listed on the New York Stock Exchange.
Aegis has already signed an agreement with the company for the acquisition, it said in a statement. The financial terms of the transaction were not disclosed.
Sallie Mae is Virginia-based company and is claimed to be the biggest student loan provider in America. Through its subsidiaries, the company manages $182 billion in education loans and serves 10 million student and parent customers.
For Aegis, the acquisition was part of the company’s plan to strengthen its presence in the US market. With this, Aegis got 350 new employees in its fold. The agreement will be effective from June 4.
Aparup Sengupta, MD and global CEO, Aegis, said, in the statement, “The acquisition will help us to expand our service offerings with highly skilled customer service professionals. Aegis will leverage Sallie Mae's expertise in quality and performance improvement and integrate the Killeen center into its global delivery platform.”
Sandip Sen, president (America) and global chief marketing officer, Aegis, said, “Aegis is committed to aggressively growing its business in the US. Our new facility in Killeen marks Aegis' 10th centre in the US, and we look forward to continuing to grow our capabilities in North America.”
Aegis currently has 40,000 professionals across its global delivery platform located in 43 locations worldwide. It has offices in India, Philippines, USA, Costa Rica, New Zealand, Sri Lanka, Australia and South Africa.
Aegis has done over a dozen of acquisitions so far. Some of its recent acquisitions include CCN Group PTY Ltd, a contact center outsourcing company in South Africa; UCMS Group Ltd in Australia; and AOL’s back-office unit in India. According to a Business Standard report, the company is currently in advanced talks to acquire Avaya GlobalConnect (AGC) Networks, an enterprise communication solution integrator in India.