WNS (Holdings) Limited (WNS: Quote) said it has acquired Fusion Outsourcing Services (Pty) Ltd., a BPO provider based in South Africa. Fusion currently employs nearly 1,500 people, operating in Cape Town and Johannesburg. WNS recently collaborated with Fusion to service one of WNS's largest UK-based clients with premium voice services.
The acquisition of the shares of Fusion from BFSL Limited, part of UK-based BGL Group of companies, is effective June 21, 2012, and cash consideration for the transaction was 10 million pounds plus adjustments for cash and working capital.
The transaction is expected to be funded from cash on hand, with around half of the consideration paid at completion and the remainder payable in tranches on or before May 31, 2013. Based on Fusion's existing book of business, the purchase may contribute incremental revenue of $9 million - $10 million for WNS in fiscal 2013. WNS expects the transaction to be neutral to adjusted earnings per share in fiscal 2013, and accretive in fiscal 2014.
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by RTT Staff Writer
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