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Cognizant rumored to be in acquisition talks with Genpact |
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Cognizant is, according to reports in the Indian media, pursuing talks with Genpact with the intent to acquire the US-listed business process outsourcing (BPO) company. Cognizant too is a US-listed company, though both companies have a significant presence in India. Reports also said that Genpact's and Cognizant's official declined to comment on what they termed “speculation”.  US conglomerate GE is reported to have a holds 9.1percent stake in Genpact, which was the company's captive BPO set up for a considerable time since it was established in 1997. Other investors include private equity players General Atlantic and Oak Hill with a reported 41.7 percent stake and Wells Fargo with a 5.71 per cent stake. Genpact's 2009 revenues were $1.12 billion, and the company has a market capitalization of $3.63 billion. |
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