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WNS gulps Aviva's BPO captive for $230 Mn
By siliconindia
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Friday, 11 July 2008, 18:07 IST
Bangalore: Warburg Pincus owned WNS, a leader in BPO, has captured Aviva Global Services in India and Sri Lanka for $230 million. Along with it, WNS also bags the $1 billion outsourced work for a period of eight years.
WNS, finally, achieved the processing through a $200 million line of credit from ICICI Bank, with buyout firm Warburg Pincus, contributing around $30 million, as stated by The Economic Times (ET). The buyout will bring over 6,500 employees of Aviva Global Services spread across Bangalore, Pune, Noida, Chennai and Colombo under the WNS fold. The rival outsourcing firms like EXL services and Capgemini has been far left behind by this massive outsource.
Apart from the $250m capture, the $1 billion work is subjected to transfer as contracts to other processes including EXL and 24/7 Customer. 24/7 Customer has announced the transfer of 750 employees from its Aviva 24/7 centre in Chennai to Aviva Global Services as part of its 'Build Operate Transfer' (BOT) contract. This is the second BOT contract that 24/7 Customer is executing for Aviva.
Aviva Global Services (AGS) is the off shoring arm of Aviva UK. It oversees its Business Process Offshoring and IT Offshoring operations with the vendor partners situated in Noida (near Delhi), Pune, Bangalore and Chennai in India and Colombo in Sri Lanka. While WNS Global Services has been a leading private equity investor since 1971. The firm currently has approximately $10 billion under management and invests in a range of industries, including healthcare, information and communication technology, consumer and industrial, media and business services, financial services, energy and real estate. So, the incessant efforts to claim the off shore service culminated, with an end to all speculations on the augmenting outlay.
