GE sells India outsourcing unit
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US giant General Electric sells a majority stake in its Indian outsourcing arm for $500m to two private equity firms.
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Barclays Bank is selling off its stake in Intelenet Global Services, a business process outsourcing (BPO) services provider that it owns jointly with India's Housing Development Finance Corp. (HDFC).
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Indian conglomerate Tata plans to buy a stake in a high-tech unit of Germany's Deutsche Telekom which would see thousands of jobs outsourced, according to a German weekly newsmagazine.
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The real estate arm of diversified  conglomerate General Electric Co.  agreed on Wednesday to  buy a $2.2 billion portfolio of U.S. industrial, residential  and commercial properties, but said it would sell some retail  properties to another investor.
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Business & money: Britain's best-known Indian food brand is being sold to Associated British Foods in a deal thought to be worth more than Â£100m.
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A unit of the industrial, financial and media conglomerate General Electric Co. said Wednesday it will buy the water treatment company Ionics Inc.
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General Electric Co. GE.N said on   Thursday it will sell its advanced materials business, which   includes silicones and quartz, to private equity firm Apollo   Management LP for about $3.8 billion in cash and securities.
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WATERTOWN, Mass. -- A unit of General Electric Co. said Wednesday it will buy Ionics Inc. for $1.1 billion in cash, not counting about $200 million in debt GE will assume in its purchase of of the water treatment company.
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U.S. conglomerate General Electric Co.  has agreed to buy British maker of oilfield services equipment Sondex Plc  for 288.7 million pounds ($583.1 million) in cash, the two companies said on Monday.
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Citigroup  is keen on selling 80 percent of its business process outsourcing (BPO) arm in India for $700-$750 million, the Mint said on Tuesday, on the heels of Blackstone's  acquisition of a back-office firm.
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New Delhi, November 8: General Electric Co said on Monday it had sold a 60 per cent stake in its pioneering Indian business process outsourcing unit for $500 million, making it the largest deal in the country&#39;s booming back-office industry.
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WIZARD founder Mark Bouris has ended months of speculation by selling his home loans business to US conglomerate General Electric.
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General Electric Co. (GE.N: Quote, Profile, Research) on Monday said it would buy a fire detection systems business from SPX Corp.
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(InfoWorld) - Barclays Bank is selling off its stake in Intelenet Global Services, a business process outsourcing (BPO) services provider that it owns jointly with India's Housing Development Finance Corp. (HDFC). The U.K. bank however plans to continue to get some of its work done in India, and will set up a wholly owned subsidiary in India. "Our sourcing operations have reached a scale where we would like full control over the operations," Laura Vergani, a spokeswoman for the bank said Monday. Barclays acquired a 50 percent stake in Intelenet from HDFC in 2004, with the balance held by HDFC. The U.K. bank said Monday that it and HDFC were selling their stake to SKR BPO Services, a company jointly owned by the management of Intelenet and by Blackstone GVP Capital Partners Mauritius V-B, a member of private equity investor Blackstone Capital Partners. The financial details of the transaction were not disclosed. Intelenet has gross assets of $107 million. Following the conclusion of the transaction, Intelenet will continue to provide services to Barclays in relation to certain processes currently offshored to India, Barclays said. Intelenet has also agreed to assist Barclays in establishing a wholly owned BPO operation in India which will serve Barclays incremental offshoring requirements going forward, it added. After its BPO subsidiary is set up, Barclays will move work from Intelenet to the new subsidiary, Vergani said. She did not however specify a time frame for setting up the subsidiary operation. Intelenet, with over 17,000 staff, services over 60 local and international clients from 18 locations across India. Barclays did not consider buying out the 50 percent stake held by HDFC, in its bid to have a whole owned subsidiary in India, as Intelenet services other customers besides Barclays, Vergani said. Forrester Research said recently that subsidiary operations were less cost-efficient than third-party outsourcing companies. General Electric, for example, sold in 2004 a majority of its holdings in its Indian subsidiary to two equity companies. The subsidiary now does work both for GE and for other customers. Some companies, including British retailer Tesco, prefer to run their own BPO subsidiaries for better control over the operations. Some of them use staff from local outsourcers, but that is usually to tide over temporary surges in demand for staff.
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General Electric Co., the world&#39;s top conglomerate, said on Monday it had sold a majority of its pioneering Indian back-office unit to exit a non-core business
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General Electric Co. GE.N said  Friday that two private equity firms completed a deal to buy a  majority interest in its India-based back office unit.
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Indian outsourcers already have a large share of outsourced application development and maintenance and are dominant in business process outsourcing. The country is now targeting a larger share of the market for remote infrastructure management services (IMS), and is planning to more than double revenue from these services to $15 billion by 2013.IMS involves managing an enterprise&#8217;s core IT systems, including hardware, software, connectivity and people. The IMS industry is moving towards a remote delivery model where services are increasing delivered from low-cost locations by service providers and wholly-owned services subsidiaries of user companies, according to a report released Thursday by India&#8217;s National Association of Software and Service Companies (Nasscom).Customers in the US and Europe are increasingly willing to outsource IMS to offshore locations, because the data does not move out of the home countries, and is only managed remotely, said Siddharth Pai, a partner at sourcing consultancy firm,Technology Partners International (TPI) in Houston, Texas.In India, IMS business is going both to Indian outsourcers, and the Indian operations of large IT services companies, Pai said. Because of the large staff component involved in IMS, there are cost benefits in outsourcing IMS to low-cost, offshore locations like India, he added.Research done by management consultancy firm McKinsey for Nasscom, suggests that the IMS business could generate between 325,000 to 375,000 jobs in India by 2013, as 70 to 75 percent of the roles in IMS can be moved offshore.Low-cost locations, including India, have so far captured a mere $6 to 7 billion&#160;of the IMS opportunity.Indian outsourcers have so far learned to price their services on the basis of staff time utilized. They now have to learn more sophisticated pricing that takes into account other parameters like amount of computing power being managed, if they are not to risk losing money in the business, Pai said.