Business Process Outsourcing News and Information

According to the latest report (I have covered the news here and here), there seems to be some light showing at the end of tunnel. Citigroup BPO's conditional search for a buyer seems to be in sight (as Citigroup was not willing to commit long term business to the captive once a new shareholder arrives, which puts strategic suitors like TCS and IBM off). Genpact is ahead in the race than others for Citigroup Global Services Ltd. (formerly e-Serve International). IBM and TCS are not seen in the visible distance, same with Infosys, however, FirstSource and WNS are also remain in the contention.     

To take you back to past, the sale process was started in last June when unconfirmed news erupted about Citigroup's keenness to sell of 80% stake in Citigroup Global Services. After than Citigroup receives numbers of bids from private equity players, IT companies and BPO firms. The final bids were reportedly being submitted in the last week of August. As I have mentioned earlier, Citigroup is in no mood to commit long term BPO committed business, it may maximum may look at giving contract for five years.    

Reuter reports:
 
the value being talked about was around $850 million, but it was not clear whether this was for the entire unit or for a majority stake...New York-listed Genpact is rated by software body National Association of Software and Service Companies as India's largest back-office services exporter.