SERCO BPO, India’s 3rd largest BPO company reacquired by Blackstone , the first owner.
Q. SERCO BPO , India’s 3rd largest BPO company is being reacquired by which company for INR 2558 crore in September 2015?- Published on 18 Sep 15a. Everstone
b. Blackstone
c. Morgan and Chase
d. None of the above.
ANSWER: Blackstone
SERCO BPO is being acquired by Blackstone for INR 2558 crore which is less than half the price at which it was sold to the former 4 years ago. Following the purchase by the US investment and advisory firm, BPO will retain its old name Intelenet Global Services. Blackstone owned this BPO unit till 2011 after which it was sold to SERCO for USD 630m. The proceeds from this transaction will be used for cutting down on Serco’s debt. Internet was initially a JV between TCS and HDFC. The latter purchased the stake of the former in 2004 and sold the unit to Blackstone in 2007. Some of the major consolidations seen in past 3 years includes IBM’s sale of Daksh to Concentric, Convergys merger with Stream and Aegis’s sale of US business to tele performance. This is the largest acquisition by Blackstone to be made and SERCO BPO’s CEO will be Susir Kumar.
