The combined company will be traded on the New York Stock Exchange under the name Startek Inc., and is estimated to make US$700 million in annual revenue, more than double the earnings Startek reported for 2017.
The new entity has 50,000 employees on its payroll and 66 delivery centers in 13 countries around the globe.
The equity firm has taken control of a 55% stake in the combined company, leaving the rest to Startek.
“This transaction is expected to be value accretive for the new company with access to the world’s most rapidly growing markets, multi-lingual offerings, strong footprint, and the institution of operational excellence capabilities and industry best practices,” stated Aparup Sengupta, Chairman of the Board of Directors of the combined business.
There is no overlap in the geographical presence as Startek has over 12,000 employees across the US, the Philippines, Honduras, and Jamaica, while Aegis has over 45,000 employees across India, Sri Lanka, Malaysia, Australia, Saudi Arabia, South Africa, Argentina, and Peru.
The new chief executive has been granted 584,000 shares in the combined entity, subject to his continued employment with the company.
Although headquartered in India, Aegis employs more than 5,500 people in Argentina, where it runs 5 delivery centers in the country’s major cities of Buenos Aires, Tucumán, and Cordoba. Most of its Latin American delivery centers cater to US clients in industry verticals such as banking, insurance, telecom, health, travel, and hospitality.