<article>US-listed business process outsourcing service provider StarTek, Inc is merging with Capital Square Partners-owned BPO Aegis Ltd in an all-stock deal, according to a press release.</article>

US-listed business process outsourcing service provider StarTek, Inc is merging with Capital Square Partners-owned BPO Aegis Ltd in an all-stock deal, according to a press release.
Under the agreement, StarTek will issue Capital Square Partners 20.6 million shares of its common stock in exchange for all the outstanding common stock of Aegis. And, Aegis will further increase its investment in StarTek by purchasing 833,333 primary shares at closing price of $12 per share, equivalent to an investment of $10 million.
After the transaction, CSP is expected to own about 55 per cent of the combined company while StarTek shareholders will hold 45 per cent. CSP will also have the right to appoint a majority of the combined company’s board of directors.
Capital Square Partners, a private equity fund manager based in Singapore, acquired BPO unit Aegis Ltd from India&#8217;s Essar Group last year.
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“The two companies have limited overlapping infrastructure and clients &#8211; a combination which helps to enhance consistency of results and profitability by significantly reducing client concentration,” said StarTek CEO Chad Carlson.
Sanjay Chakrabarty and Mukesh Sharda, Managing Partners of CSP, stressed that the combined company will also be able to significantly leverage automation, AI and other technology-led innovations.
Aegis is one of the leading global business service providers of customer experience management. It has clients in multiple sectors such as telecom, technology, media, banking, financial services and insurance, travel and logistics, retail and e-commerce.
The company employs 40,000 people across 47 offices worldwide, offering services including lifecycle management, technology services, back-office services and social media analytics. Its annual revenue is around $400 million.
StarTek, Inc. provides business process outsourcing services in the US, Canada, Honduras, Jamaica, and the Philippines.
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US-listed BPO StarTek to merge with Capital Square Partners-owned Aegis

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US-listed BPO StarTek to merge with Capital Square Partners-owned Aegis

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