Teleperformance acquires Intelenet
Teleperformance, the worldwide leader in outsourced omnichannel customer experience management, enters into a definitive agreement to acquire Intelenet from Blackstone (NYSE: BX), a leading global alternative asset manager.
Intelenet is a major global provider of high-end omnichannel customer experience management, back-office, human resources and financial & administration services. The company has more than 110 blue chip clients worldwide, mostly in the English-speaking market, India and the Middle East.
Intelenet primarily serves the Banking, Financial Services and Insurance sector (BFSI), as well as the travel, transport & accommodation, e-commerce, e-services, and healthcare sectors.
Intelenet helps clients drive revenue growth, optimize operational efficiency, and reduce operational costs, while increasing end-customer satisfaction due to its integrated solutions:
- Solutions design created by a large consulting force with a wide range of expertise, including more than 200 highly skilled data scientists and business & process consultants
- Digital integration based on robotic process automation (RPA) technology
- Operational excellence, with 55,000 employees, working in over 40 delivery centers across India, the Philippines, the United Arab Emirates, Poland and Guatemala
Founded in 2000 and headquartered in Mumbai (India), Intelenet is managed by Bhupender Singh (IIM and IIT graduate), who was recognized as “CEO of the year” in 2018 at the ET Now HR Talent Management and Leadership Awards in India.
Intelenet’s growth momentum is strongly positive. For the fiscal year ended March 31, 2018, the company posted revenue of US$449 million, up + 10% year on year, and EBITDA of US$83 million, representing 18.5% of revenue vs. 17.4% the previous year. For fiscal year 2019, the company forecasts significant additional revenue growth of at least + 10% and increased profitability.
Daniel Julien, Chairman and Chief Executive Officer, Teleperformance, commented: “I am extremely pleased to welcome Bhupender and the Intelenet group to the Teleperformance family. We share the same management values, the same passion for service, and the same strategic vision. Intelenet’s strong integrated solutions and digital optimization capacities will immediately and significantly enhance Teleperformance’s offering. Intelenet’s amazing footprint in India is also an opportunity for Teleperformance to massively 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 % on the Group’s earnings per share in 2018 on a pro forma basis.”
Amit Dixit, Senior Managing Director and Head of Private Equity India, Blackstone, said: “We have invested in Intelenet twice. The continued success of the company is a testament to the exceptional quality of the management team, the value delivered to its customers, and the deep engagement with Blackstone. We are excited with the transfer of ownership to an industry leading company, Teleperformance, because it ensures continuity for Intelenet’s management, employees and customers. In addition, it provides a platform to further accelerate growth by combining Intelenet’s intellectual property with Teleperformance’s global customer base. We offer our full support and best wishes for an exciting future.”
“We thank Blackstone for an excellent partnership over the years. Going forward, the management team is excited to lead Intelenet in its next phase of evolution. With the large, global platform of Teleperformance combined with the transformative services capabilities of Intelenet, we will be able to deliver even greater value to the clients of both companies. In addition, the combination will provide greater growth opportunities for our employees”, added Bhupender Singh, Chief Executive Officer, Intelenet.