Teleperformance becomes strong contender in Intelenet acquisition
Global outsourcing giant Teleperformance is joining the bidding to acquire business process outsourcing firm Intelenet, and is viewed as being a strong contender for the acquisition. A report published by the Economic Times of India said the French outsourcing company is now formally competing with private equity group Baring Asia and US IT services firm Convergys. Other firms that had expressed interest to acquire Intelenet include Apax, Carlyle, Goldman Sachs Principal Investment Area, KKR-backed Webhelp and Conduent, but they have now opted out of the formal bidding process. However, Teleperformance’s bid is still facing a hurdle over valuation differences, according to the report. If the company succeeds in acquiring Intelenet, it will be the company’s second large India-focused transaction after its acquisition of parts of Essar Group’s BPO business in 2014. Intelenet currently employs 55,000 people in the Americas, the UK, continental Europe, the Middle East, India and the Philippines.