IPVG sells BPO subsidiary

[MANILATIMES]A wholly owned subsidiary of Hong Kong’s telecommunications provider has signed an agreement to acquire the entire issued share capital of IPVG Corp.’s unit.

In a statement, IPVG said PCCW Teleservices, a unit PCCW Ltd., agreed to acquire IP BPO Holdings Pte. Ltd.’s up to $22 million worth of issued share capital, which is payable in two tranches—an initial of $10 million.

“The acquisition represents a major step in our growth strategy for contact center businesses. The newly added assets will not only provide us with significant English and Spanish speaking capabilities to complement the core businesses,” Tony Bruno, PCCW Teleservices director, said.

IP BPO Holding owns 70 percent of Interactive Teleservices Corp. in the US and BPO Teleservices Inc. in the Philippines.

Interactive Teleservices provides contact center services from a network of six English speaking centers in Ohio and Nebraska, US, and one Spanish speaking center in Panama.

BPO Teleservices, on the other hand, is operating two contact centers in Manila that provides services to US companies.