Genpact to acquire Israel's PNMsoft

Its fifth acquisition since 2005

Business process management firm Genpact on Tuesday said that it has entered into a definitive agreement to acquire Israel-based PNMsoft, a case management and work optimization solutions provider.

The company did not disclose the terms and financial details of the transaction but said that closing is subject to satisfaction of certain customary conditions and expected in the third quarter.

Since 2005, Genpact has acquired five companies to bridge gaps in its portfolio and improve its service to customers. In the past, its acquisition include Endeavour Software Technologies, Empower Research, HeadStrong and Creditek, which it did first in 2005.

Genpact said that PNMsoft complements and integrates pre-existing systems of records that host manual process work, and will act as a core component in Genpact's digital portfolio whose roadmap comprises close to 100 digital solution components.

The company said despite the promise of digital technology and analytics, enterprises still struggle with architecting and transforming business processes that thread from the front to the back office, resulting in suboptimal customer experiences and operational performance.

"Dynamic, intelligent workflow can help address this and that's what PNMsoft combined with Genpact's business process transformation capability sets out to achieve," Genpact said in a statement.

PNMsoft is a global provider of Intelligent BPM Software (iBPMS) solutions with offices in Israel, UK, US, Portugal and Germany.

Genpact, Senior Vice-President and Chief Digital Officer, said: "PNMsoft will help us deliver agile, focused workflow interventions tightly aligned with business outcomes, that leverage data analytics in real time, use machine learning to learn over time, and utilize integrated machine intelligence."

"We are thrilled to be joining Genpact and look forward to integrating our iBPMS platform, which also includes Case Management and Work Optimization into their growing portfolio of digital assets," said Gal Horvitz, chief executive of PNMsoft.

Genpact announced its acquisition after market hours on Monday (in the US), when the stock was $25.41 down 3.09% on NYSE. On Tuesday, the stock on the exchange was trading 0.33 cents or 1.30% at $25.74 at 19.35 IST.