The talks are being held between financial investors at Genpact and Blackstone, which holds a little under 80% in Intelenet, one of the persons who spoke with ET on condition of anonymity, added. Genpact is the country’s largest BPO firm and has investments from private equity player General Atlantic and other investors, which hold nearly half of the firm. Intelenet is the country’s 14th-largest BPO firm.

The acquisition is of interest to Genpact because of the ability to derisk its revenues, which are still significantly dependent on its one-time parent, General Electric (GE), and consequently improve valuations, the person said. GE contributes around 40% of Genpact’s revenues. “Intelenet’s India business is the chief attraction to Genpact, but Blackstone is not willing to sell that alone,” the second person told ET. He said the potential transaction value could be $600-750 million. (more…)