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In a major consolidation in the domestic business process outsourcing sector, Tracmail, Webhelp and Spherenomics have merged.
TWS Holdings, the new entity, will be one of the largest BPO companies in India with a projected revenue of $30 million by the end of the current financial year. The company, which now has about 2,500 agents, expects to have about 4,000 employees by the year-end.
"This move gives the size and scale to compete in the global market. Besides, the merger also gives us large service delivery structure," Adi Cooper, chairman, TWS Holdings, said.
The new venture has multiple North American and Indian operations centres which provide scale, quality, and redundancy for Fortune 500 clients.
Rakesh Kaul, chairman of Spherenomics, has been appointed chief executive and member of the board for TWS Holdings.
CIBC World Markets, The VIEW Group, Insight Capital Partners, eTEC Ventures Ltd, and Cooper, who are the major shareholders of Tracmail and Webhelp, have announced that they will remain company shareholders and plan to fund additional growth capital. The new entity has also drawn up a plan to invest $6.5 million.
"Tracmail, Webhelp and Spherenomics have been close partners, with complementary strengths. This merger greatly strengthens our client sales support, as we now have offices in San Francisco, Seattle, Chicago, Toronto, Montreal, New York, New Jersey and Boston," Kaul said.
"Our operational and technology platform provides best-in-class service and proprietary solutions to our clients and to scale our business profitably. The combination of major call centres in Montreal, Mumbai and Hyderabad staffed by 2,500 trained agents allows us to provide near-shore and offshore customer service alternatives. It positions us as one of the leading global outsourcing companies for Fortune 500 Companies," Kaul said.
The new senior management team of the company will be led by Arjun Vaznaik, Chris Barrow, Ralph Bulle, Richard B Hoffman, and Thomas Pfaff.