PeopleSupport Inc. said Thursday that its board rejected an unsolicited acquisition proposal from IPVG Corp. and AO Capital Partners due to concerns over the companies funding vehicles.

IPVG Corp., which is a call center operator based in Makati City, Philippines, said earlier this month that it had raised its unsolicited takeover offer for the Los Angeles-based outsourcing company to $17 per share from $15. The first offer, made in November, was rejected a month later by PeopleSupport.

The increased offer followed a letter late last year from the Galleon Group, a New York-based hedge fund with a 24 percent stake in PeopleSupport, which urged PeopleSupport Chief Executive Lance Rosenzweig to reconsider the buyout offer and drop its newly adopted poison pill provision.

The offer represented an 11 percent premium on PeopleSupport shares the day before the deal was made public.

“We have been extremely patient and accommodating to enable IPVG and AO Capital to demonstrate their capability to consummate their proposed transaction,” Frank Perna, an independent director on PeopleSupport’s board, said in a statement. He added that the two parties did not “respond with any useful information,” about the purchase or possible funding, he said.

Shares in PeopleSupport dipped 5.7 percent to $13.23 in early trading Thursday on the Nasdaq.