Leading offshore BPO purish-play, Genpact, reported a pretty good quarter, which also saw them announce that key investors, General Atlantic and Oak Hill Capital, are to sell a goodly chunk of their holdings to Bain Capital.
First the numbers. Headline revenues in Q2 (to 30th June) grew by 18% yoy to $468m. Operating margins improved by 70bps to 13.5%. Looks fine.
As for the equity deal, Bain is buying 30% of Genpact’s stock for $1b, which will leave GA and Oak Hill with some 10% between them. A full or partial exit had been mooted for quite some time.