(Reuters) - Outsourcer Genpact Ltd (G.N) agreed to buy Headstrong Corp, a provider of consulting and IT services, for $550 million in cash to strengthen its capital markets business.
The business process and technology services provider, which in February forecast disappointing 2011 revenue growth of 10-13 percent, expects Headstrong to have a long-term growth rate of over 20 percent a year, it said.
Genpact sees the deal, expected to close by May 31, adding to 2011 earnings.
Headstrong, which was founded in 1981 and has centers in India and Manila with a global headcount of 3,700, generated 2010 revenue of about $217 million, Genpact said in a statement.
Full story here: reuters.com
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Wednesday, April 6, 2011
Genpact to buy Headstrong Corp for $550 million
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