Acquisition king, Aegis BPO has been slated to make a bid for the beleaguered company Satyam’s BPO business in the next couple of days according to news reports.

Satyam BPO, formerly called Nipuna Services, a wholly-owned arm of Satyam, has between 3,500 and 4,000 employees and reported revenues of Rs 55.6 crore for the quarter ended September 2008, down 8.65% from the same quarter a year ago.

The international clients and Satyam BPO’s presence in telecom, banking and financial and financial services make it an attractive target the Economic Times quoted a source in its report. A top Aegis executive has confirmed the firm’s interest in acquiring Satyam BPO.

Many industry analysts believe that the only way Satyam can be saved in to break it up and sell the pieces. A large number of companies have evinced interest in other business areas of the scam hit company. Members of the new board, which includes HDFC chairman Deepak Parekh and former Nasscom chief Kiran Karnik, have said a merger with another IT services firm or an asset sale are some of the options in front of it.

The BPO arm of Satyam services clients such as telecom firms BellSouth and Verizon, construction equipment firm Caterpillar and drugmaker GlaxoSmithKline. The company operates from delivery centres in Hyderabad, Bangalore and Chennai, apart from onsite delivery teams.

Aegis BPO, which has revenues of around $450 million, has been on an acquisition spree, buying 11 companies in the last four years, the last one being the acquisition of Nasdaq-listed offshoring firm PeopleSupport for Rs 1,057 crore in August 2008.