Genpact, the country's largest business process outsourcing firm, today announced the acquisition of Axis Risk Consulting, a risk consulting firm, for an undisclosed sum. | |
| This is Genpact's first acquisition in India. With this acquisition, it will add 80 clients based across India, North America, Europe and Asia. |
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| The details of the agreement have not been disclosed. Earlier in March, the company acquired European SAP service provider ICE Enterprise Solutions for an undisclosed amount. |
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| Axis will enable Genpact to expand its finance and accounting solutions portfolio. Axis will operate as an independent unit of Genpact within its governance practice. |
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| Ameet Parikh, managing director and founding partner of Axis Risk Consulting, will continue to be the managing director of the company. |
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| "The integrated risk and technology solutions we'll be offering to our US and European clients, as a result of the acquisition, would remove a lot of the time, pain and costs associated with governance and risk management," said Genpact President and CEO Pramod Bhasin. |
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| The former GE captive unit was eyeing acquisitions wherever it was strategically viable. However, the US and the UK were always preferable, said Tajinder Vohra, senior vice-president and business leader, who oversees the information technology outsourcing (ITO) business at Genpact. |
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| This is because both countries provide not only delivery models, but also a good client base. China is another target, which, according to Vohra, provides a huge potential along with Latin America for delivery capabilities. |
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| The company plans to get bigger with its acquisition plans, not wanting to waste time in developing small companies. |
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| Tajinder said, " We are witnessing a robust growth organically, we can build up a company of 2000 employees ourselves easily. Then why should we acquire them? We are looking at bigger companies to expand our business." |
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| Genpact has over 30,000 employees and adds in excess of 800 new employees a month in India alone. |
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| The company has filed for listing on the New York Stock Exchange in May, through which Genpact plans to raise $600 million (around Rs 2,500 crore). |
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