Mumbai, India Aegis Limited, a leading global business process outsourcing (BPO) provider and part of $18 billion Essar Group of India, today announced the successful acquisition of 80% shares of Ismart Timex Pvt Ltd, a leading BPO services provider in Sri Lanka.

The balance 20% continues to be with the selling shareholders Timex Garments Ltd. This acquisition has been done through Essar Services Holdings Limited, the holding company of Aegis Limited.

Aparup Sengupta, MD and CEO Aegis Limited said, Ismart Timex is one of the largest BPO service provider in Sri Lanka and we expect it to grow exponentially to more than double in voice, back office, especially F&A in the next one year. This acquisition adds a new geography in the Aegis spectrum of outsourcing solutions and expands its global footprint to cover Sri Lanka. Aegis will now offer services from 35 delivery centers across the world. This acquisition will reinforce Aegis` leadership position as Customer Lifecycle Management (CLM) company by delivering complete end to end CLM solutions.

Arshad Sattar, Managing Director, Ismart Timex said: Sri Lanka has a rich talent pool for voice, back office and shared services business. We are happy to become a member of the Aegis family and to create a global BPO leader. Our focus on full spectrum of CLM services will continue and our value proposition is now stronger as we expand our industry and process expertise, service offerings and global delivery platform.

Aegis has expanded its global footprint with operations in India, the Philippines, the United States, Costa Rica, Kenya, South Africa, Australia and now Sri Lanka. With more than 39,000 employees globally, Aegis meets complex right-shoring requirements for large enterprises.

Currently serving more than 130 global clients, 32 Fortune 500 companies, Aegis offers benefits of global delivery model, strong financial strength, geographical diversity, deep domain expertise, comprehensive and flexible solution offerings, and a rich international talent pool.

Aegis has established a record of successfully aligning the interests of all stakeholders in a short period of time. This would be the 14th acquisition for Aegis, having recently concluded its acquisition of the Australia based UCMS group.