Intelenet Global Services, which was bought over by private equity major Blackstone in June this year, has completed all the formalities and is all set to accomplish its growth plans. The new board of the company will meet on October 3 to discuss the company?s strategies going forward.
The new five-member board will have four members from Blackstone and Susir Kumar, CEO of Intelenet. Others will be independent directors on the board. Blackstone had bought 80% in Intelenet for an undisclosed sum.
?We will be presenting our strategies in front of the new board, where we have plans to grow organically and inorganically both for Intelenet and Sparsh,? sources in the company said. .
On the organic front, the company is looking at business from the Blackstone portfolio companies and is also looking to take advantage of the global contacts of Blackstone to grab more business for the company. Inorganically, Intelenet plans to acquire companies in Europe and Latin America.
Declining to give specifics, the official said, ?We will present our strategies in front of the board and we hope to get it approved.?
The acquisition is expected to be both in voice and non-voice based business. ?If the company meets our three criteria, which is increase in revenue, bottomline and domain expertise, we will look at it for acquisition,? the official revealed. Intelenet targets to be a 35,000 employee company by 2009. Similarly, domestic BPO Sparsh, where Intelenet has a 51% stake is also targeting to be 20,000 seater company by 2009. It is also scouting for space in tier II and tier III cities for setting-up a new facility.