Convergys Corp, the US based call
centre operator with operations in India, is in advanced talks to buy business
process outsourcing (BPO) firm Minacs Ltd in a deal worth $500 Million.
Convergys and a clutch of PE investors, including CVC Capital Partners Ltd and
HIG Capital Partners had expressed interest in buying Minacs.
Minacs was acquired by the current
owners from Aditya Birla Nuvo Ltd for $260 Million in 2014. In 2006, TransWorks
Information Services Pvt. Ltd a unit of Aditya Birla Nuvo had acquired Canada
firm Minacs Worldwide Inc. for about $125 Million. The $3 Billion Convergys
provides customer management services in 58 Languages from more than 150
locations across the world. It employs 130,000 people across 31 countries.
Convergys claims to be number one
in the US customer management industry with more than half of the top 50
Fortune 500 companies as clients. In India, Convergys is the 10th
largest with operations in Mumbai, Thane, Pune, Hyderabad, Gurgaon and
Bengaluru. Minacs could be a right acquisition target for Convergys as it will
help to strengthen its position in India, a fast growing outsourcing market.
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