blackstone-leads-buyout-of-intelenet

Blackstone leads buyout of Intelenet

Blackstone acquires the Indian business process outsourcing company from HDFC and Barclays, valuing the target at around $200 million.
Blackstone and the senior staff of Intelenet Global, an Indian business process outsourcing company, have acquired ownership of the business from HDFC and Barclays Bank.

Blackstone will own 80% of Intelenet while about 300 to 400 senior employees of the firm will own the remaining 20%. Details of the price were not disclosed by the buyer or sellers. Sources, however, speculate that the Indian outsourcing company was valued at around $200 million.

Intelenet posted consolidated revenues of Rs3.8 billion $92 million and profits of Rs611 million for the most recent fiscal year ended March 31, 2007. The company is on a high-growth trajectory with revenues growing by 41% from Rs2.7 billion in the previous year....
¬ Haymarket Media Limited. All rights reserved.

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