Blackstone to acquire Intelenet

Kolkata, June 18 (UNI) The Blackstone Group company will acquire Intelenet Global Services Pvt Ltd (Intelenet), subject to regulatory approval.

Intelenet, in a release today, announced that is had agreed for a management buyout(MBO). Following the transaction, Intelenet will continue to provide business-processing services to all Blackstone's current customers including Barclays and HDFC.

Intelenet is a leading global BPO service provider servicing over 60 local and international clients from 18 locations across India since its incorporation in 2000.

Intelenet has grown from 25 employees at a single site to over 17,000 employees acros 18 locations in India and overseas, delivering a multitude of services to clients in the US, UK, Australia and India.

Commenting on the buy-out, Intelenet Global Services CEO Susir Kumar said, '' We are happy about this development as Blackstone has a superb record in financing companies. '' UNI