TCS sells 40% stake Sitel India to JV partner Sitel for $17.73 mn

Business Standard reports that Tata Consultancy Services has divested its 40% stake in the BPO firm Sitel India to US-based Sitel Corporation for $17.732 mn. Sitel India is a joint venture between the Tata Group and Sitel Corporation, formed in 2000, with both parties holding 50% of the equity. Tata International, which holds 10% stake in the JV, has also agreed to sell its stake. The joint venture company provides voice-based contact centre BPO services from India. With over 4000 professionals, the JV is a provider of fully integrated customer care and back office processing services operating from five centers in Mumbai, Hyderabad, Chennai and Gurgaon.