Bain Buys Billion Dollar Genpact Stake

Investors in Indian business processing and technology management firm Genpact have sold 30% of the company to Bain Capital, the private equity group founded by US presidential hopeful Mitt Romney. The deal is valued at approximately $1 billion.

Genpact's analytics services, delivered from centres in India, can be embedded in a client's information management system to draw insights from customer transaction data. In recent years, the firm has acquired analytics and data management services firm Symphony Marketing Solutions (SMS), as well as media monitoring and measurement specialist EmPower Research.

Bain Capital has bought 68 million Genpact shares at $14.76 each, from General Atlantic LLC and Oak Hill Capital Partners. The firms invested a total $500m in Genpact in 2005 when it separated from GE Capital, and will own an aggregate 10% in Genpact when the deal closes.

Robert Scott will continue to serve as Genpact's Chairman of the Board, while NV 'Tiger' Tyagarajan will retain his role as President and CEO. The transaction is expected to close in 2012 and is subject to payment of the special dividend, anti-trust and competition clearances and other customary closing conditions.

Tyagarajan (pictured) comments: 'We look forward to working with Bain Capital as we continue to make enterprises around the world run better by continuously improving their business processes and run smarter through the innovative combination of technology, data analytics and process expertise, resulting in better business outcomes.'

Last week, Genpact reported a 57% increase in second quarter net profit to $61.1m from the prior year period, as revenues rose 18%.

Web site: www.genpact.com .