the Epitome weekly- Newsletter

Issue: 0829| Tuesday, July 15, 2008

WNS acquires Aviva BPO for USD 230 Mn

July 10, 2008

India's No.2 BPO Company WNS Holdings has acquired Aviva's captive back-office operations in India and Sri Lanka for about USD 230 million.

The company is funding the acquisition with USD 200 million in credits from ICICI Bank and USD 30 million in equity contribution from Warburg Pincus. WNS will gain over 6,500 employees of Aviva Global Services spread across Bangalore, Pune, Noida, Chennai and Colombo through this acquisition. Through this deal WNS has also secured Aviva’s USD 1 billion outsourced work over the next eight years. But part of this will be subcontracted to EXL and 24/7 Customer. Aviva’s BPO operations are run by Aviva Global Services on a built-operate-transfer (BOT) basis. The insurance giant had initially split its operations among three vendors: EXL Services, WNS and 24/7 Customer.

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