BPEA has emerged as the highest bidder in the last phase of the world’s largest BPO Teleperformance SE. BPEA, an Asia-centric procurement specialist, valued IGT at $ 800 million (Rs 6,000 crore). It will initially acquire an 85% stake from Aion Capital Partners, which was formed as a joint venture between Apollo Global and ICICI Ventures but later disbanded. One year later, Aion will transfer the remaining 15% stake in the company to BPEA as per the agreement signed between the two this weekend. Once completed, it will be marked as the biggest pay-day for Apollo in India – 4x return in just 3 years. In 2019, Aion acquired IGT Solutions for 0 230 million, owned by Interglobe Enterprise – Indigo Airlines. Apollo could capture more in the next one year. Apollo Global and Baring PE Asia declined to comment. Late last year, riding on the rise of technology sector valuations, Apollo decided to sell IGT and forced JP Morgan and Barclays to run a formal process so that funds like Carlyle and KKR could compete with NYSE-listed WNS and Webhelp. Seeing to do. In the final round, only three submitted strong tenders. Apart from BPEA and Teleperformance, PAG was the third suitor.
Founded in 1998, IGT Solutions (IGT) employs more than 15,000 customer experience and technology specialists who serve more than 75 customers worldwide. According to the company’s website, IGT’s global footprint includes 23 delivery centers in China, the Philippines, Malaysia, India, the United Arab Emirates, Romania, Indonesia, Spain, Colombia, and the United States. IGT provides integrated BPM, technology and digital services and solutions for customers across industries such as land transport, logistics and cargo. Under Apollo, IGT has evolved from a major travel and hospitality centric BPO with clients such as United Airlines, Marriott, Priceline, Hotels.com to many retailers and startups such as Flipkart, Mintra and Grab. About 70% of its business is in the United States and the rest in Europe and Asia.