Forbes- Intelenet Global Services Pvt Ltd (Intelenet) has agreed to be acquired by an affiliate of The Blackstone Group and the management team, subject to regulatory approval. Intelenet today announced its intention for a management buy-out (MBO) that will see HDFC and Barclays transferring their ownership of Intelenet to (SPV), a company jointly owned by Blackstone and the current management team of Intelenet.
Intelenet is a leading global BPO service provider servicing over 60 local and international clients from 18 locations across India. Since its incorporation in 2000, Intelenet has grown from 25 employees at a single site to over 17,000 employees across 18 locations in India and overseas, delivering a multitude of services to clients in the US, UK, Australia and India. Following the transaction, Intelenet will continue to provide business-processing services to all its current customers including Barclays.
Under the terms of the transaction, Intelenet will continue to be led by Mr. Susir Kumar, CEO and the existing management team, which has been instrumental in driving the growth experienced by the company.
