TransWorks acquires Minacs for $125 million

Mumbai, Jun 24: TransWorks, a fully owned subsidiary of the Aditya Birla Nuva (a part of the Aditya Birla Group), has taken over Canada's largest outsourcing firm Minacs for a consideration of USD 125 million.

Aditya Birla Group Chairman Kumar Mangalam Birla told mediapersons here today that Canada's largest outsourcing firm has 6,000 employees on its rolls with operations in Canada, Europe and United States. ''The entire process of acquisition with all necessary approvals will be completed by August this year,'' Mr Birla said.

Mr Birla said Minacs has a revenue base of USD 265 million and with the group company, TransWorks put at USD 35 million, put together will have a combined revenue of USD 300 million.

Minacs provides customised business process outsourcing (BPO) solutions focused on three core areas of capability: contact center solutions, integrated marketing services and back office administration. It combines expertise in these areas to improve revenue, customer service and operating margin for its clients, a top AB Group executive pointed out.

With more than 6,000 employees operating from locations in Canada, the United States and Europe, Minacs partners with clients in the automotive, financial services, telecom and technology, public sector and consumer products industries.

UNI