EbixCash acquires 70% stake in AssureEdge Global Services
AssureEdge CEO and Founder Bhupesh Tambe will continue to lead the company with a 30% stake
EbixCash, a fully-owned subsidiary of Ebix, has announced that it has acquired a 70 per cent stake in a 1800-person, pan-India BPO company AssureEdge Global Services.
“AssureEdge is today recognized as the first independent customer retention and customer response organization in India, with a vareiety of BPO offerings via six contact centers across the country. AssureEdge serves a number of industries and clients that have cross-selling value for EbixCash services. AssureEdge focuses on top priority areas like sales, fulfillment and customer retention for its clients. The company today services 34+ large corporate clients, including some very well known names in the BFSI, telecom, entertainment and ecommerce sectors,” read a release from the company.
Based on client commitments, AssureEdge is presently committed to growing its employee strength to 2,500 by the end of March 2021. The company presently has a strong focus on growing its HRO and LMD verticals, and is targeting 35% to 50% orghanic growth in the year 2021. AssureEdge presently generates approximately 30% EBITDA margins.
AssureEdge CEO and Founder Bhupesh Tambe will continue to lead the Company with a 30 percent stake in the venture. A proven leader with global experience of over 30 years and specializing in rapid growth and turnaround opportunities, Bhupesh will be immediately focusing his energies on AssureEdge integration into EbixCash, the immediate growth opportunities and the synergies offered by the integration. As a part of empowering AssureEdge, the Company will be rebranded as EbixCash Global BPO services.
Robin Raina, Chairman of the Board, President & CEO, Ebix, said, “AssureEdge can serve to handle fulfillment, collections and last mile delivery for EbixCash, as we converge it with our EbixCash financial and insurance technology platforms. We see AssureEdge serving our pre-sales and post-sales support for the BSE Ebix insurance platform, besides helping us provide an end-to-end fulfillment solution to banks on our lending, wealth management, asset management and credit card processing solutions for banks and financial institutions.”
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