Feb 04, 2011, 10.52 PM | Source: CNBC-TV18
After over 16 acquisitions, Essar is now looking at taking its BPO arm, Aegis, to the next level, reports CNBC-TV18’s Kritika Saxena.
Kritika Saxena (more)
Reporter, CNBC-TV18 |
All IT and ITES operations under one brand. That's Essar's strategy for Aegis, which has grown over 60-70% in the last three years despite the economic slowdown. Aegis, which has completed 16 acquisitions in three years, will now tap customers as a full services IT and ITES company. While the legal and financial aspects of the consolidation will take time, Aegis is already reaching out to customers as one brand.
Said Aparup Sengupta, MD & Global CEO, Aegis, “We are focusing more on the customer side. What we will do at the back end is something we have to consider after various strategic options. We are not a pure play BPO anymore. We are a full services company as we talk.”
This consolidation is expected to push revenues past USD 1 billion. Sengupta added, “We expect to touch billion dollars by March.”
When asked if the company is still looking at tapping the capital markets, Sengupta said, “Going to the capital market is a function of alternative source of capital. If you want to list the only advantage u have that u create monetisable currency that can be used at a later date. Today we are a well-funded profitable company so there is no such pressure.”
With listing pressure in absentia, the focus is on Large transformational deals -- like the USD 2 billion deal signed with Saudi Telecom.
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CNBC-TV18's Kritika Saxena, quoting sources, says