The broader global outsourcing market consists of two primary functional components, IT outsourcing, commonly referred to as ITO, and BPO. ITO traditionally involves the management of a client’s servers, networks, PCs, applications and data centers. ITO was the first breed of outsourcing and, although maturing, still represents a significant market opportunity, both within the U.S. and internationally. According to International Data Corporation, or IDC, a subsidiary of International Data Group, worldwide spending on ITO totaled approximately $157.7 billion in 2005 and is projected to increase to $222.2 billion in 2010, representing a five-year compound annual growth rate of 7.1%.

BPO has gained increased prominence among senior management of organizations as it becomes an integral component of improved competitive advantage and market leadership. According to IDC, worldwide spending on BPO services totaled $384.5 billion in 2005. IDC projects that this market will increase to $618.0 billion in 2010, representing a five-year compound annual growth rate of 10%.

While the BPO market, as defined by IDC, is expected to grow 10% per year in the aggregate, elements of the BPO market are experiencing above-industry average growth rates. In 2005, NASSCOM/McKinsey estimated that the total offshoring market reached $30.0 billion and is expected to grow to a $110.0 billion market by 2010, implying a compound annual growth rate of 30.0%. In addition, the emerging market BPO category is also expected to grow rapidly as enterprises based in Europe and Asia increasingly adopt outsourcing as a routine practice. According to IDC, the Western European and Asia Pacific (excluding Japan) BPO markets are forecast to grow at five-year compound annual growth rates of 14.7% and 15.6%, respectively, between 2005 and 2010.

The Company was formed to acquire, through a merger, capital stock exchange, asset or stock acquisition, exchangeable share transaction, joint venture or other similar business combination, one or more domestic or international operating businesses, in the business process outsourcing industry, or in any other industry.

The Company is not presently engaged in, and it will not engage in, any substantive commercial business for an indefinite period of time following the offering.

The Company estimates that the net proceeds from the sale of the units in the offering and the sale of founder warrants in the private placement will be approximately $239 million (or $273.9 million if the underwriters’ over-allotment option is exercised in full).