Genpact is all set to acquire Citigroup Global Services. The BPO deal would be amongst the highest with valuation of around $600 million. Genpact is right now in competition with Firstsource, but according to the Business Standard and CNBC TV 18 they seem to have outbid them. Genpact, which is India's biggest BPO, would be bagging stake of 80% of Citigroup thereby adding another 8000 employees to its base. This would take Genpact's employee base to around 30,000. Citigroup with $155 m revenue for the last quarter would surely take Genpact to next level.
This deal would surely help Genpact increase their stake and have a more powerful center in India. As a matter of fact, this was the first assignment i worked on when i entered CSC - though CSC didnt bid for it! So awaiting for the results....
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