Expanded Global Capability Enhances Growth Opportunities
NEW YORK & MUMBAI, India--(BUSINESS WIRE)--Jun. 21, 2012--
WNS (Holdings) Limited (NYSE: WNS), a leading provider of global
business process solutions, today announced that it has acquired Fusion
Outsourcing Services (Pty) Ltd., a leading BPO provider based in South
Africa. Fusion provides a range of outsourcing services including
contact center, customer care and business continuity services to both
South African and international clients. With operations in Cape Town
and Johannesburg, Fusion currently employs approximately 1,500 people.
WNS recently collaborated with Fusion to service one of WNS’s largest
UK-based clients with premium voice services.
WNS’s CEO, Keshav Murugesh, stated, “The acquisition of an established
player like Fusion brings a new and highly leveragable asset to WNS.
Expanding our global delivery footprint and entering emerging growth
markets are key pillars of our investment strategy. We believe that
establishing operations in South Africa addresses both of these
objectives. WNS currently has several existing and prospective clients
interested in having services delivered from South Africa to take
advantage of the English language capabilities, skilled talent pool and
strong cultural work ethic. Longer term, we view this growing economy as
an exciting end-market user of global BPO services, especially in the
areas of finance and accounting and insurance-specific services. We are
pleased to welcome the Fusion team into the WNS family, and look forward
to working together to take the company to greater heights.”
“We are thrilled to become a part of a vibrant and growing global
organization like WNS,” said Johann Kunz, Fusion’s Managing Director.
"We are proud of the solid foundation and reputation we have been able
to build, and look forward to becoming an integral part of WNS’s global
strategy going forward.”
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 UK£10 million plus adjustments for
cash and working capital. The transaction is expected to be funded from
cash on hand, with approximately 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 acquisition is
expected to contribute incremental revenue of $9 million - $10 million
for WNS in fiscal 2013. WNS expects the transaction to be neutral to
adjusted earnings1 per share in fiscal 2013, and accretive in
fiscal 2014.
About WNS
WNS (Holdings) Limited (NYSE: WNS), is a leading global business process
outsourcing company. WNS offers business value to 200+ global clients by
combining operational excellence with deep domain expertise in key
industry verticals including Travel, Insurance, Banking and Financial
Services, Manufacturing, Retail and Consumer Packaged Goods, Shipping
and Logistics and Healthcare and Utilities. WNS delivers an entire
spectrum of business process outsourcing services such as finance and
accounting, customer care, technology solutions, research and analytics
and industry specific back office and front office processes. After the
acquisition of Fusion, WNS has over 26,000 professionals across 28
delivery centers worldwide including Costa Rica, India, Philippines,
Romania, South Africa, Sri Lanka, United Kingdom and the United States.
For more information, visit www.wns.com.
Safe Harbor Provision
This document includes information which may constitute forward-looking
statements made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995, the accuracy of which are
necessarily subject to risks, uncertainties, and assumptions as to
future events. These statements include, among others, growth
opportunities from the expanded global capability, the demand for global
BPO services in South Africa and Fusion’s expected results of operations
and their expected impact on WNS’s results of operations. Factors that
could cause actual results to differ materially from those expressed or
implied include Fusion’s volume of business, our ability to successfully
integrate Fusion’s business operations with ours; our ability to
successfully leverage Fusion’s assets to grow our revenue, expand our
service offerings and market share and achieve accretive benefits from
our acquisition of Fusion; worldwide economic and business conditions;
political or economic instability in jurisdictions where we have
operations; and other factors discussed in our most recent Form 20-F and
other filings with the Securities and Exchange Commission. WNS
undertakes no obligation to update or revise any forward-looking
statements, whether as a result of new information, future events, or
otherwise.
References to “UK£” refer to the British Pound Sterling, the legal
currency of Britain. References to GAAP refers to International
Financial Reporting Standards, as issued by the International Accounting
Standards Board.
1 Adjusted earnings is a non-GAAP measure and refers to our
profit excluding amortization of intangible assets and share-based
compensation expense.
Source: WNS (Holdings) Limited
WNS (Holdings) Limited
Investors:
David
Mackey, SVP-Finance & Head of Investor Relations
201-942-6261
ir@wns.com
or
Media:
Sumi
Gupta, Public Relations
+91 (22) 4095 2263
sumi.gupta@wns.com;
pr@wns.com