Aegis BPO, a leading global business process outsourcing (BPO) provider
and part of Essar Group, one of India’s
largest and fastest growing business conglomerates with an estimated
enterprise value of over $50 billion, and PeopleSupport, Inc. (Nasdaq:
PSPT), a leading offshore BPO provider, today announced that the waiting
period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976,
as amended, in connection with the proposed merger with PeopleSupport
through Essar Services (Mauritius), a wholly-owned subsidiary of Aegis
BPO, has expired without a request for further information by the
Federal Trade Commission.
Completion of the transaction is subject to satisfaction of other
customary closing conditions, including the approval of the stockholders
of PeopleSupport. As previously announced, PeopleSupport has scheduled a
special meeting of its stockholders, to be held at 9:00 a.m., Pacific
time, on Wednesday, October 8, 2008, to consider and vote on the
proposed merger.
About Aegis
Aegis BPO is today one of India’s fastest
growing BPO companies with annual revenues of over USD $320 million. It
is a part of the ESSAR Group which is one of India’s
largest conglomerates in terms of enterprise value. Aegis BPO services
some of the world’s largest corporations in
the Telecom, Banking, Insurance and Healthcare verticals through its 25
delivery facilities in the U.S. and India. Aegis BPO operates over
14,000 seats and employs over 20,000 people globally. It has been
recognized as being one of the largest offshore BPO companies in India
and among the top 2 in the Indian domestic sector. Visit website www.aegisbpo.com.
About Essar
The Essar Group is a globally diversified conglomerate with huge
business interests in Steel, Energy, Power, Communications, Shipping &
Logistics, and Construction. The Essar Group has an estimated enterprise
value of over USD $50 billion and employs over 38,000 people worldwide.
With a firm foothold in India, Essar is focused on global expansion with
projects and investments in Canada, USA, Africa, the Middle East, the
Caribbean and Asia. Visit website www.essar.com.
About PeopleSupport
PeopleSupport, Inc. (Nasdaq: PSPT), is a leading offshore BPO provider
that offers customer management, transcription and captioning and
additional BPO services for global enterprise clients. From its
world-class service delivery centers in the Philippines and Costa Rica,
PeopleSupport offers high performance services with deep industry domain
knowledge and expertise, resulting in customizable and best practice
solutions. By delivering high quality services from offshore locations,
PeopleSupport’s service delivery centers
reduce costs, improve performance and increase revenues. A majority of
PeopleSupport's services are performed in the Philippines, where
PeopleSupport is one of the largest outsourcing companies, employing
approximately 8,000 college-educated, fluent English speaking personnel.
Headquartered in Los Angeles, California, with approximately 8,500
employees worldwide, PeopleSupport serves clients in a variety of
industries, such as travel, consumer, financial services, healthcare,
insurance, technology, telecommunications, entertainment and education.
For more information, visit www.peoplesupport.com.
PeopleSupport
Peter Hargittay, 310-824-6182
Head
of Marketing & Investor Relations
phargittay@peoplesupport.com
or
Joele
Frank / Jamie Moser / Marin Kaleya, 212-355-4449
Joele Frank,
Wilkinson Brimmer Katcher
or
Aegis
Essar Group
B.
Ganesh Pai, +91 98197 30225
Corporate Communications
gpai@essar.com
or
Manisha
Awasthi, +91 98339 45761
Telecom Group
mawasthi@essar.com
