Blackstone acquires stake in TaskUs
Blackstone, the world’s largest private equity (PE) firm, has signed a deal to invest in TaskUs, a customer service and business process outsourcing (BPO) services provider for high-growth technology firms. The value of the investment was not announced, but a Bloomberg report said it was about US$250 million. The investment, before funding, values TaskUs at more than $500 million, according to a statement on Thursday. The transaction is expected to close in the fourth quarter of 2018, subject to regulatory approvals and customary closing conditions. With the new investments, TaskUs said it will scale globally with investments in Europe, India and Latin America and will continue its expansion in countries where it operates today – the United States, the Philippines, Mexico and Taiwan. Founded in 2008 by Bryce Maddock and Jaspar Weir, TaskUs is one of the fastest-growing companies in its industry globally.
