According to the Financial Times, investment firm Bain Capital, which manages assets of over $65 billion, has bought 30% in Indian provider of business process outsourcing Genpact in a $1 billion deal.
Bain Capital was founded 28 years ago with Mitt Romney, the Republican challenger of Democrat president Barack Obama in this autumn’s presidential elections, being its co-founder.
BPO provider Genpact started its operations in India in 1997, as a unit of U.S. company General Electric. Genpact is the first business process management company to enter the Romanian market, in 2005.
Last year, the Romanian subsidiary of the company had a turnover of EUR52 million (up 13% on the preceding year), a profit of EUR6.7 million and 1,571 employees. The company announced it will continue expansion and hire 400 more people this year in its Bucharest and Cluj centers.
(English version by Daniela Stoican)