TeamAsia all set to acquire Outsource2Philippines
A Philippines-based strategic marketing communications company, TeamAsia has said that would acquire Outsource2Philippines (O2P), a company providing consultancy services to the BPO industry. Quoting the managing director of TeamAsia, Michael Alan Hamlin, a website reports that they have ascertained several stimulating prospects for Outsource2Philippines, which, he said, would be elaborated by the company in the ensuing months.
Providing further details regarding the acquisition of O2P, Hamlin remarked that with the fast progress of the outsourcing industry, there is a change in the type of services it requires to deliver to the clients. In fact, the outsourcing industry is now becoming skilled at outsourcing business process that actually does not come under the purview of its basic expertise process. According to the TeamAsia managing director, this particular aspect is expected to offer fantastic prospects to Outsource2Philippines.
According to Michael Alan Hamlin, TeamAsia is expected to finalize the process of acquiring Outsource2Philippines within the next 30 to 60 days. At the same time, the TeamAsia managing director hinted that his company may mull over enlisting further strategic shareholders having expertise in deep domain in the business process outsourcing industry.
Frank Holz, an industry old hand having several years of understanding as a partner of Andersen Consulting (now rechristened Accenture) established Outsource2Philippines in 2004. Even after the acquisition of the firm by TeamAsia, veteran Frank Holz will continue his association with O2P in the capacity of a consultant and assist the company in handling issues related to quick growth.
While Outsource2Philippines have been associated with the Philippines Software Industry Association (PSIA) in developing an industry roadmap called ‘Fly High 2010’, the BPO advisory firm also works in partnership with the Business Processing Association of the Philippines (BPAP) in conducting surveys of the business process industry in the country on a quarterly basis that have led to regular CEO conferences of extremely high standards. Hamlin stated that even after the acquisition, O2P would keep on working intimately with the BPAP to evaluate the industry outlook and offer a medium for holding frequent dialogues regarding the developments in the country’s BPO industry.
It may be noted here that the business process industry has proved to be highly successful in generating numerous employments in the Philippines, considered to be the second most popular outsourcing destination globally after India. Industry experts are of the view that the BPO industry in the Philippines will be able to generate revenues worth $12 billion during 2010.