Bangalore, June 22 (IANS) Leading business process outsourcing (BPO) provider WNS (Holdings) Ltd will acquire Fusion Outsourcing Services Ltd, a back office in South Africa, for $16 million to expand its global presence.
The acquisition will be made by buying Fusion shares from BFSL Ltd, a part of the British-based BGL group of firms, for $16 million.
"Fusion will enable us to leverage our capability, as a global delivery footprint and entering emerging growth markets are key pillars of our investment strategy," WNS chief executive Keshav Murugesh said in a statement here Friday.
With back office facilities in Johannesburg and Cape Town, Fusion is a premium voice provider with about 1,500 people.
"Demand from present and prospective clients offers us growth opportunity for high-end voice service from diverse verticals, including finance and accounting (F&A) and insurance," Murugesh noted.
As a leading player in the outsourcing domain, Fusion provides a range of services, including contact centre, customer care and business continuity services to clients in South Africa and overseas.
"Acquisition is projected to add $9-10 million to this fiscal (2012-13) and $12-13 million on annualised basis though it will be neutral in terms of earnings per share (EPS)," Murugesh said.
The company plans to expand Fusion's client base in South Africa, taking advantage of the English language capabilities, skilled talent pool and strong work ethic.
"We believe the growing economy of South Africa will create a market for back office services in wide areas, especially F&A and insurance," Murugesh observed.