Tuesday, September 30, 2008

PeopleSupport Gets Clearance On Merger

Los Angeles-based PeopleSupport, a provider of business process outsourcing services, has gained clearance under the Hart-Scott-Rodino Antitrust act for the firm's merger with Mumbai, India-based Essar Group and its Aegis BPO unit. According to PeopleSupport, the waiting period under the act has expired without a request for further information from the Federal Trade Commission. The clearance is a milestone along the firm's way to acquisition by Aegis BPO, a unit of Essar Group. PeopleSupport announced it would merge with Aegis BPO in a $250M deal in early August. Aegis BPO is a business process outsourcing company, which provides services to the telecom, banking, insurance, and healthcare market. PeopleSupport provides similar services based out of service centers in the Phillippines and Costa Rica, and employs over 8,5000 worldwide.