Teleperformance to acquire rival Intelenet for $1 billion

TeleperformanceTeleperformance is set to acquire smaller rival Intelenet for $1 billion from Blackstone as part of the strategy to ensure stable revenues.

Intelenet has more than 110 blue chip clients worldwide, mostly in the English-speaking market, India and the Middle East.

Intelenet primarily serves the Banking, Financial Services and Insurance sector (BFSI), as well as the travel, transport & accommodation, e-commerce, e-services, and healthcare sectors.

Intelenet is a provider of customer experience management, back-office, human resources and financial and administration services. Intelenet helps clients to drive revenue growth, optimize operational efficiency, and reduce operational costs.

Intelenet has 55,000 employees, working in over 40 delivery centers across India, the Philippines, the United Arab Emirates, Poland and Guatemala.

Founded in 2000 and headquartered in Mumbai (India), Intelenet is managed by its CEO Bhupender Singh.

Intelenet has posted revenue of $449 million (+10 percent), and EBITDA of $83 million, representing 18.5 percent of revenue vs. 17.4 percent the previous year for the fiscal year ended March 31, 2018.

“Intelenet’s solutions and digital optimization capacities will enhance Teleperformance’s offering. Intelenet’s footprint in India is an opportunity for Teleperformance to massively strengthen its presence in this key geography going forward,” Daniel Julien, chairman and CEO of Teleperformance, said.

Teleperformance revenue dips

Teleperformance reported revenue of €1,026 million in the first quarter of 2018, showing  an increase of 6.7 percent. On a reported basis, Teleperformance revenue fell 3.8 percent, reflecting a sharply negative €105 million currency effect that was mainly due to the US dollar’s weakness against the euro.

Teleperformance said its Q1 revenue in the English-speaking market & Asia-Pacific region was €371 million in the first quarter of 2018, representing a decline of 12.7 percent as reported, due to the US dollar’s weakness against the euro.

Teleperformance diversified its client portfolio in the Asia Pacific region. The dynamic client segments are e-tailing, consumer electronics, fast-moving consumer goods, the automotive industry and local community services. Teleperformance said momentum in these sectors offset a weaker performance from telecommunications activities, particularly in the Philippines.

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