Aegis will pay PeopleSupport stockholders $12.25 per share in cash through Essar Services (Mauritius). This is a premium of around 29 pc over PeopleSupport"s closing share price on August 1, 2008, the last trading day prior to the announcement. Credit Suisse was the financial advisor to PeopleSupport in the transaction.
“We believe that this combination will deliver superior value to PeopleSupport"s stockholders and customers as well as provide our employees with the opportunity to be part of a larger enterprise and to explore career opportunities in new geographies," PeopleSupport CEO and chairman Lance Rosenzweig was quoted as saying in a statement.
The acquisition gives Aegis a sizeable presence in Philippines, which is a key region for BPO players servicing the US market, as well as presence in Costa Rica.