An offshoring superpower has been created with French IT services giant Steria's acquisition of UK outsourcing firm Xansa for £456m. Xansa, which has increasingly won contracts offshoring jobs including HR positions, now has more than 5,000 employees in India. It provides back-office functions for organisations such as the BBC, Threshers and Lloyds TSB. Steria, which recorded revenues of around £900m last year and has more than 10,000 employees, is one of the biggest European IT services companies. Xansa chairman Bill Alexander said: "We are confident that our recommendation is in the best interests of Xansa shareholders and offers an opportunity for our employees to be part of a culturally-aligned, pan-European company able to leverage our integrated onshore/offshore model. "The combination of our two businesses will create a leading European IT services provider, able to offer our clients a broader range of market-leading services." Xansa's annual report showed that it...




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