Teleperformance, an outsourcing company based in France, recently announced that it has acquired Mumbai-based Intelenet Global Services, which was previously backed by Blackstone, for a sum of $1 billion. Through this deal, Blackstone will exit the company with a 160% return on investment in just three years.
Blackstone initially invested a sum of $200 million in Intelenet Global Services in the year 2007. It later sold its stake in the company to UK-based firm Serco for a sum of $550 million. In 2015, Blackstone purchased Intelenet from Serco for a sum of $383 million.
Intelenet has a workforce of around 55,000 employees and has over 110 clients. The company has more than 40 global delivery centres in locations across the UK, Americas, India, Middle East, and the Philippines. The company’s revenue grew by 10% to touch a sum of $449 million last year. Further, Intelenet has also acquired other companies in the robotics and analytics sector. For FY18-19, it was forecasted that the firm’s revenue would grow by over 10% with increased profitability.
The company offers services across various sectors such as insurance and financial services, banking, transport and accommodation, travel, e-commerce, healthcare, and e-services.
Source: The Times of India