JEDDAH: Aegis, the outsourcing services company from the $15 billion Essar Group, entered into a partnership with Saudi Telecom Co. (STC) to set up a joint venture. The deal, under which Aegis will get business worth $2 billion (around Rs9,000 crore) in eight years, is being touted as the largest in the business process outsourcing segment. The venture – Call Center Company – will have a near equal stake from both the companies. STC will hold 50 percent and one share in CCC, and Aegis the rest. Aegis would also have operational control and responsibilities, and CCC would enjoy an exclusivity contract with STC. While CCC will provide customer care service to STC's 28 million customers in Saudi Arabia, the JV will also scout for regional opportunities. This is certainly one of the largest organic deals for the company, as well as the industry.
