French Teleperformance to buy BPO firm Intelenet for $1 billion
New Delhi: French outsourcing firm Teleperformance on Friday said that it will acquire BPO firm Intelenet from Blackstone for a total consideration of $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 was founded in 2000 with HQ at Mumbai. It posted revenue of $449 million for the fiscal ended March 31, 2018.