Teleperformance completes USD 1 billion Intelenet acquisition

French outsourcing firm Teleperformance announced Friday it has completed the acquisition of business process solutions company Intelenet.

In June this year, Teleperformance had said it will acquire BPO firm Intelenet from Blackstone for a total consideration of USD 1 billion.

The transaction was approved by regulatory authorities, the company said in a statement Friday.

Intelenet financial accounts will be consolidated by Teleperformance as of October 1, 2018, it added.

"By acquiring Intelenet, a high-end business services and digital transformation solutions provider, Teleperformance is significantly strengthening its added-value specialised services business," it 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 had forecast 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).

At the time the acquisition was announced, Intelenet had 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.

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.