Acquisition

WPP Buys Stake in Quasar

WPP Digital has acquired a 75% stake in the share capital of Quasar Media, a
subsidiary of Smile Interactive Technology Group, a provider of digital
marketing and Web solutions. WPP Digital has said that it would also partner
with Smile in the development of Quasar business.

GTL Gets ADA Cellworks

GTL International has acquired Malaysia-based ADA Cellworks in an all cash deal
worth $25 mn. The deal is expected to close within the next few weeks. Manoj
Tirodkar, CMD, GTL, said the acquisition will help the company get access to
fast growing markets like China, Indonesia, and the South East Asian countries.

MindTree Buys TES-PV

MindTree Consulting has acquired TES-PV Electronic Solutions (Purple Vision)
for $6.55 mn in an all-cash deal. The transaction will become effective upon
completion of closing conditions. We expect to complete the closing conditions
in the next 4-6 weeks. Jagannathan Balaji, president and CEO of Purple Vision,
said in a span of seven years, Purple Vision has proved to be a leading IC
design service provider.

Aegis Acquires TeleTech

Aegis BPO has acquired TeleTech Services (India), a 50:50 joint venture of
TeleTech Europe BV and Bharti Ventures, for around $13 mn. For Aegis BPO, this
is the seventh takeover in the last two-year period. Aparup Sengupta, MD and
CEO, Aegis BPO, said the acquisition is in line with the companys strategy of
growing the telecom business, the largest contributor to its revenues, at over
40%.