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Brigade buys out Webhelp from TWS

 

Hyderabad: BRIGADE Corporation, a business process outsourcing company, has announced the acquisition of Webhelp Global Services, a TWS Holdings, in an all-cash deal effective December 1.

The company did not disclose the value of the buyout which was managed through Avendus Advisors.

The Chairman and Chief Executive Officer of Brigade, Mr Sri Dasari, today said: "this acquisition is part of the company's effort to grow both organically and inorganically. The Hyderabad facility of Webhelp has been custom-built for tech support and customer service and is a perfect fit for us. This deal will help acquire Webhelp's client contracts."

Addressing a news conference, Mr Dasari said: "the company plans to add about 500 people in the next quarter to the existing 1,400. Given the current trends, we expect to add about 400 people quarter after quarter ."

"We expect to close this fiscal with revenues of $17 million and project $30 million next year. We are considering listing options that could be in India or overseas," Mr. Dasari explained.

"We are retaining all the employees of WGS including senior and middle management teams and all the five client contracts of WGS will stay," Mr Dasari said.

TWS Holdings earlier in the day announced it had divested Hyderabad facility to Brigade Corporation, which is aimed at consolidating its India operations in the Greater Mumbai area.

A spokesperson from TWS, which owns Webhelp, said: "the company business was vertical driven and the Hyderabad facility was a tech support centre. Since we concentrate on collection and retail that is basically voice based, it builds on the company proprietary platform, we decided to concentrate in Mumbai."

The Chief Executive Officer of TWS Holdings, Mr Rakesh Kaul, in a statement said: "this divestment is a part of our strategic growth plan to enhance our voice-centric capabilities."

It may be recalled that TWS Holdings was formed through the merger of 3 BPO firms, Tracmail, WebHelp and Spherenomics late in calendar 2003. Earlier this year, the company had said that it would end the current fiscal with revenues of about $ 25 million.
 


 

 
 

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