Genpact's investors are negotiating with Blackstone to acquire its 80% stake in Intelenet, according to ET. The potential value of the transaction could be $600-750 million.

Motivation for the acquisition seems to be the India business of Intelenet, which will help Genpact diversify away some of the revenue risk from GE and consequently improve valuations. GE contributes around 40% of Genpact’s revenues.
Both companies have refuted that the negotiations are taking place.

Almost all of Genpact's current investors - i.e. GE, General Atlantic and Oak Hill Capital Partners - are interested in exiting the company.
Genpact is the country’s largest BPO firm and is listed on NYSE. PE firms own almost half of Genpact, while GE owns 18%. It started out as GE's outsourcing subsidiary in India and still gets 40% of its revenue from GE. GE's master services agreement (MSA) has been extended to the 2016 recently, but the quantum of work has remained stagnant or reduced in the recent past. GE is also now free to sell its stake in the company.

Intelenet has an established domestic BPO operation under Sparsh BPO which it acquired in 2006. Sparsh is listed on the domestic stock exchanges. Intelenet has 31,000 employees and has delivery centers across India, USA, UK, Mauritius, Philippines and Poland. Intelenet ownership has seen a lot of change since inception. The original promoters were HDFC and TCS. Here's how the ownership has changed hands:

Source

- ET

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