Business process outsourcing major Genpact Ltd will acquire which provides engineering and technical services to the aviation, energy and oil & gas industries, for an undisclosed amount. The closing of the deal is subject to satisfaction of certain customary conditions, Genpact has said in a statement.
The acquisition will enhance Genpact’s services portfolio for the infrastructure and manufacturing sector by adding capabilities to the large and high-growth segment of engineering and technical services.
Set up in 1995, Cincinnati-based Triumph provides an extensive portfolio of engineering services including product definition & design, product documentation and analysis. It also engineers IT services, such as product lifecycle management (PLM) implementation and customisation. The company has several marquee customers in the aviation and energy sectors.
"We are seeing a huge demand for engineering services in highly technology-intensive industries like aviation, energy and oil & gas,” said ‘Tiger’ N.V. Tyagarajan, president and CEO of Genpact. “This acquisition will allow us to combine Triumph's onsite expertise and depth in engineering with our global scale, end-to-end process management, analytics and technology capabilities to meet this growing demand.
“Our plan is to build engineering centers of excellence (COEs) with an initial focus on the aviation and energy sectors, which we would later expand to cover other manufacturing segments. We are very excited to add Triumph’s highly talented and experienced team of engineers,” he added.
Triumph’s 90 employees will become Genpact employees as part of its infrastructure, manufacturing and services (IMS) vertical.
"The markets and clients today demand global delivery. By leveraging Genpact’s global delivery footprint, leading hiring and training practices, operational excellence and existing business process management services for the manufacturing industry, we will be able to offer comprehensive services that address the new product innovation demand we are seeing from our clients and help them achieve maximum business impact,” said Triumph CEO Harry Westerkamp.
Gurgaon-based Genpact (formerly GE Capital International Services) offers finance and accounting, collections and customer services, insurance, supply chain and procurement, analytics, enterprise application and IT infrastructure services. Within Europe, Genpact operates three delivery centres in Romania as well as other centres in Hungary, Poland and Morocco.
This is the third acquisition by Genpact this year. Recently, it acquired Atyati Technologies, a technology platform provider for the rural banking sector in India, for an undisclosed amount. The company had also acquired Accounting Plaza, a European provider of finance & accounting (F&A) and HR services.
Last year, the firm acquired US-based media and business research firm EmPower Research, High Performance Partners, LLC (HPP) and its Quantum Mortgage Technology, as well as Akritiv Technologies Inc and Headstrong Inc. Other key acquisitions by Genpact included Symphony Marketing Solutions Inc, Creditek Corporation LLC and Genpact Mortgage Services Inc.
(Edited by Sanghamitra Mandal)