WNS to acquire back office in South AfricaJune 22nd, 2012 - 9:35 pm ICT by IANS
Bangalore, June 22 (IANS) Leading business process outsourcing (BPO) provider WNS (Holdings) Ltd will acquire Fusion Outsourcing Services Ltd, a back office in South Africa, for $16 million to expand its global presence.
The acquisition will be made by buying Fusion shares from BFSL Ltd, a part of the British-based BGL group of firms, for $16 million.
“Fusion will enable us to leverage our capability, as a global delivery footprint and entering emerging growth markets are key pillars of our investment strategy,” WNS chief executive Keshav Murugesh said in a statement here Friday.
With back office facilities in Johannesburg and Cape Town, Fusion is a premium voice provider with about 1,500 people.
“Demand from present and prospective clients offers us growth opportunity for high-end voice service from diverse verticals, including finance and accounting (F&A;) and insurance,” Murugesh noted.
As a leading player in the outsourcing domain, Fusion provides a range of services, including contact centre, customer care and business continuity services to clients in South Africa and overseas.
“Acquisition is projected to add $9-10 million to this fiscal (2012-13) and $12-13 million on annualised basis though it will be neutral in terms of earnings per share (EPS),” Murugesh said.
The company plans to expand Fusion’s client base in South Africa, taking advantage of the English language capabilities, skilled talent pool and strong work ethic.
“We believe the growing economy of South Africa will create a market for back office services in wide areas, especially F&A; and insurance,” Murugesh observed.
- Lok Capital invests $3 million in rural BPO - Sep 15, 2011
- Infosys ranked second in global outsourcing firms - Jul 23, 2012
- Religare Capital acquires major shares in South Africa firm - Jul 25, 2011
- Mumbai firm acquires Grail Research from US group - Nov 10, 2009
- Aegis takes over South African outsourcer - Jul 10, 2009
- Sonata to set up offshore centre for US firm - Jul 31, 2012
- Infosys to buy US insurance back office firm for $38 mn - Nov 12, 2009
- US company acquires Randstad's Indian payroll business - Jan 16, 2012
- Wipro buys Australian analytics firm - May 01, 2012
- Infosys beats guidance but stock dips on muted earnings - Jul 12, 2011
- South African fund shows interest in Indian insurance - Sep 07, 2011
- TCS subsidiary bags $2.2 billion contract - Nov 09, 2011
- Infosys to expand back office operations in Poland - Sep 06, 2010
- French firm Altran bets on india for growth - Jul 12, 2012
- Wipro's first rural BPO centre comes up in Tamil Nadu - Aug 26, 2011
Tags: bfsl, business continuity services, business process outsourcing, contact centre, earnings per share, emerging growth, global delivery, global presence, growth markets, growth opportunity, language capabilities, overseas acquisition, prospective clients, skilled talent, strong work ethic, talent pool, verticals, voice provider, voice service, wide areas