Intelenet’s takeover by Teleperformance gets watchdog’s nod
India’s fair competition watchdog has approved the acquisition of Mumbai-based business process outsourcing (BPO) firm Intelenet by French outsourcing firm Teleperformance. In a tweet, the Competition Commission of India confirmed that it has given its approval for the acquisition of Intelenet BPO and Intelenet Global Services by Dutch Contact Centers, a subsidiary of Teleperformance. Teleperformance beat other bidders to acquire Intelenet, owned by Blackstone, with a US$1 billion offer. This will be the second largest India-focused transaction for Teleperformance in recent years, having acquired parts of Essar Group’s BPO business in 2014. Founded in 2000, Intelenet, currently headed by Bhupender Singh as the CEO, employs more than 55,000 people across eight countries, including the US, UK, India and the Philippines. According to Teleperformance, the deal is expected to close by September this year.
Read more at The Weekend Leader.
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