Aegis acquires CCN to expand footprint in SA

Essar Group's BPO arm Aegis today said it has acquired South Africa-based outsourcing firm CCN Group to expand its presence in the African country.

The company will invest $60 million in the next three years in South Africa.

"We are putting in significant amount of our overall South Africa planned investment of R 500 million ($60 million) into this acquisition," Aegis Global CEO and Managing Director Aparup Sengupta said declining to give the deal size.

Sources, however, said that the deal could be around $30 million.

The company, however, declined to comment on the deal size.

Besides, Aegis plans to hire 4,000 people for the entity in next three years.

"CCN is a strategic fit for Aegis and South Africa is an integral part of our growth strategy. We plan to hire another 4,000 people in the next three years in the country, which is a step towards our commitment to creating 5,000 jobs in South Africa over a period of time," Sengupta said.

He added that the company plans to service its European clients out of the South Africa centre.