TeleTech Sells Indian Subsidiary

TeleTech Holdings Inc. (Nasdaq: TTEC) reported it completed the sale of its 60 percent interest in its Indian subsidiary for $9,150,000 to World Focus, a subsidiary of Aegis BPO Services Limited.

TeleTech, an Englewood, Colo.-based provider of business process outsourcing services, received $8.7 million for its equity interest in the firm, along with $450,000 for intercompany payables, according to TeleTech’s filing with the U.S. Securities and Exchange Commission.

TeleTech reported in November a sale price of $7,780,000 but adjustments led to the increase.

TeleTech also reported in November that its partner in its Indian venture, Bharti Ventures Limited, would sell the remaining 40 percent of TeleTech Services (India) for $5,220,000 to World Focus. That deal wasn’t updated in last week’s filing.

Aegis BPO employs more than 10,000 at its customer contact centers, including 17 in India and seven in the U.S., according to its Web site. Indian headquarters are in Mumbai and U.S.Irving, Texas. headquarters are in