French company acquires Intelenet for $1 billion

BENGALURU: French outsourcing firm

Teleperformance

has acquired Mumbai-based BPO company

Intelenet Global Services

from

Blackstone

for $1 billion.


The deal will witness Blackstone, the world's largest private equity firm, exiting Intelenet with a handsome 160 per cent return in three years.

Intelenet is 55,000 people strong, with over 40 global delivery centres in 8 countries across the Americas, Europe, Middle East, India and the Philippines. The firm, which counts

Barclays

as one of its top customers, saw revenue growing by 10 per cent to $449 million last year.

It has been making acquisitions in areas like analytics and robotics. For 2018-19, the company forecasts a revenue growth of over 10 per cent and increased profitability.

Blackstone initially invested $200 million in Intelenet in 2007 and sold its stake to UK-based Serco for around $550 million. It bought Intelenet back from Serco for $383 million in 2015.

Intelenet offers a suite of services across banking, financial services and insurance, travel, transport & accommodation, e-commerce, eservices, and healthcare sectors. Daniel Julien, chairman and CEO, Teleperformance, said, "Intelenet's strong integrated solutions and digital optimisation capacities will immediately and significantly enhance Teleperformance's offering," he said.

Amit Dixit, senior managing director and head of private equity India in Blackstone, said, "We have invested in Intelenet twice. We are excited with the transfer of ownership to Teleperformance, because it ensures continuity for Intelenet's management, employees and customers."

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