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Sitel acquires TCS, Tata's stake in Indian arm
[ 28 Mar, 2007 0054hrs ISTTIMES NEWS NETWORK ]
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NEW DELHI: Global Business Process Outsourcing (BPO) major, Sitel Corporation, acquired TCS and Tata Group's 50% holding in the Sitel India JV for around $22 million.
Sitel India was a joint venture between Tata Group and Sitel, formed in 2000, with both parties holding 50% of the equity. TCS, which holds 40% stake and Tata International Ltd, which holds a 10% stake, have agreed to sell their respective stake in the JV.
Sitel India has five BPO centres in four cities in India. It has two centres in Mumbai, one each in Hyderabad, Chennai and Gurgaon. It has staff strength of 4,000 in India and 65,000 in 28 countries all over the world. The company recently opened its centre in Gurgaon with an employee strength of 500, which would be ramped up to 1,500.
"As a company with over 450 clients across the globe, we understand the importance to continue to have a right-shore strategy to service our clients needs," said Dave Garner, CEO and president of Sitel. India is at a strategic location for Sitel and the purchase demonstrates group's strong interest in the India market.
CEO of Sitel India Safir Adeni said that it would help the company in providing services to its customers from various locations seamlessly. As the company's other location is wholly owned, it was finding it difficult in integrating its India business with the operations in the rest of the world.
Adeni said that India is an important location for Sitel, it would like to integrate its operations here with those in the other parts of the world. He also said that the country is very bullish to India and would increase its staff strength further.
He added that the company is considering to start centres in other parts of the country soon.
[ 28 Mar, 2007 0054hrs ISTTIMES NEWS NETWORK ]
RSS Feeds| SMS NEWS to 8888 for latest updates
NEW DELHI: Global Business Process Outsourcing (BPO) major, Sitel Corporation, acquired TCS and Tata Group's 50% holding in the Sitel India JV for around $22 million.
Sitel India was a joint venture between Tata Group and Sitel, formed in 2000, with both parties holding 50% of the equity. TCS, which holds 40% stake and Tata International Ltd, which holds a 10% stake, have agreed to sell their respective stake in the JV.
Sitel India has five BPO centres in four cities in India. It has two centres in Mumbai, one each in Hyderabad, Chennai and Gurgaon. It has staff strength of 4,000 in India and 65,000 in 28 countries all over the world. The company recently opened its centre in Gurgaon with an employee strength of 500, which would be ramped up to 1,500.
"As a company with over 450 clients across the globe, we understand the importance to continue to have a right-shore strategy to service our clients needs," said Dave Garner, CEO and president of Sitel. India is at a strategic location for Sitel and the purchase demonstrates group's strong interest in the India market.
CEO of Sitel India Safir Adeni said that it would help the company in providing services to its customers from various locations seamlessly. As the company's other location is wholly owned, it was finding it difficult in integrating its India business with the operations in the rest of the world.
Adeni said that India is an important location for Sitel, it would like to integrate its operations here with those in the other parts of the world. He also said that the country is very bullish to India and would increase its staff strength further.
He added that the company is considering to start centres in other parts of the country soon.
