India-based IT services provider Hinduja Global Solutions (HGS) has sold off its healthcare Business Process Outsourcing (BPO) operations to investment management firm Barings Private Equity (BPE). The amount of the acquisition was announced to be US$1.2 billion.
The tech company plans to use the money to invest in cutting-edge tech solutions to assist in its aim to become a “digitally-enabled customer experience services” provider
CEO of HGS Partha DeSarkar said that the deal will help the firm’s goal of “unlocking value” for its shareholders.
The acquired unit accounts for 54% of the tech giant’s revenue. It employs over 20,000 people across 34 delivery centers.