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Aditya Vikram Birla Group to acquire Minacs Worldwide for $125 million
Aditya Vikram Birla Group’s Transworks has confirmed in a statement that they are planning to acquire Canada’s largest back office provider Minacs Worldwide for $125 million.
This deal would help the company become the third largest BPO player in the Indian market. They are currently lying in the fifteenth position.
The acquisition would also help the company improve their revenues six times to over $300 million. The combined entity would have a worker base of around 10,000 employees.
Aditya Birla Group chairman Kumar Mangalam Birla spoke about this new development: “We will be initially buying out the promoter holding of 46.4% in the company and then make an open offer to acquire the entire shareholding.”
The deal is expected to be complete by august this year.