Business process outsourcing firm eTelecare Global Solutions said its board of directors has approved the merger between the company and EGS Acqusition Corp. with eTelecare as the surviving entity.

In a disclosure to the Philippine Stock Exchange, the full-service business process outsourcing provider said the board also approved an amendment to the company?s articles of incorporation to increase par value of its shares from P2 to P812,500 per share.

The number of shares comprising the company?s authorized capital stock will be reduced from 65 million to 160. Total value of shares will remain at P130 million.

The board also approved resolutions authorizing the termination of the American Depositary Shares facility of the corporation.

EGS Acquisition, which is 50 percent owned by Ayala Corp. and 50 percent by global private equity firm Providence Equity Partners, purchased the outstanding shares of eTelecare in 2008.

Early this year, eTelecare bought Phone House (Proprietary) Ltd., a BPO services subsidiary of Talk Talk Group Ltd., the telecommunications division of The UK?s Carphone Warehouse Group PLC.

The company expanded its global delivery network by adding a delivery center and approximately 400 employees in Cape Town, South Africa, serving Europe, Middle East and Africa.

Last week, eTelecare announced that it secured a new international client in Peek, creator of the world?s first e-mail-only mobile device. Roderick T. dela Cruz