French outsourcing firm Teleperformance today said it will acquire BPO firm Intelenet from Blackstone for a total consideration of USD 1 billion.
"Teleperformance has entered into a definitive agreement to acquire Intelenet from Blackstone ... The transaction will be completed for a total consideration (enterprise value) of USD 1 billion," a statement said.
The transaction is expected to close by September 30, 2018, subject to receipt of certain regulatory approvals and other customary closing conditions, it added.
"We share the same management values, the same passion for service, and the same strategic vision. Intelenet's strong integrated solutions and digital optimisation capacities will immediately and significantly enhance Teleperformance's offering," Teleperformance Chairman and CEO Daniel Julien said.
He added that Intelenet's "amazing footprint in India" will help the company to strengthen its presence in this key geography going forward.
"Thanks to the Intelenet acquisition, Teleperformance is poised to move quickly ahead with its 2018-2022 strategic plan. Moreover, upon closing this deal will be immediately accretive for Teleperformance shareholders, as it should have a positive impact of around 10 per cent on the Group's earnings per share in 2018 on a pro forma basis," he said.
Intelenet, which was founded in 2000 and is headquartered in Mumbai, had posted revenue of USD 449 million for the fiscal year ended March 31, 2018. For fiscal 2019, the company forecasts significant additional revenue growth of at least 10 per cent and increased profitability.
Blackstone had first invested in Intelenet in 2007 and in 2011, sold the latter to UK's Serco Group for 250 million pounds or then USD 383 million. In 2013, Blackstone bought back Intelenet from Serco for 250 million pounds (Rs 2,558 crore).
Intelenet has 55,000 people and over 40 global delivery centres in eight countries. It serves over 110 clients in over 25 languages from across industry verticals like banking and financial services, travel, healthcare, retail and e-retail.
Euronext-listed Teleperformance, which reported consolidated revenue of about USD 4.7 billion, has 2.23 lakh employees across 350 contact centres in 76 countries.
In 2014, Teleperformance acquired the BPO business of Essar Group firm AGC Holdings in the US, the Philippines and Costa Rica in a USD 610 million (about Rs 3,638 crore) deal.
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