Mobile Services
Teleperformance to buy Intelenet from Blackstone for $1 billion
NEW DELHI: French back-office services company, Teleperformance said it would acquire business process outsourcing (BPO) services company, Intelenet Global Services from Blackstone for $1 billion (around Rs 68 billion).
Intelenet is a major global provider of high-end omnichannel customer experience management, back-office, human resources and financial & administration services. The company has more than 110 blue chip clients worldwide, mostly in the English-speaking market, India and the Middle East.
Intelenet primarily serves the Banking, Financial Services and Insurance sector (BFSI), as well as the travel, transport & accommodation, e-commerce, e-services, and healthcare sectors.
Intelenet helps clients drive revenue growth, optimize operational efficiency, and reduce operational costs, while increasing end-customer satisfaction due to its integrated solutions:
– Solutions design created by a large consulting force with a wide range of expertise, including more than 200 highly skilled data scientists and business & process consultants
– Digital integration based on robotic process automation (RPA) technology
– Operational excellence, with 55,000 employees, working in over 40 delivery centers across India, the Philippines, the United Arab Emirates, Poland and Guatemala
Founded in 2000 and headquartered in Mumbai (India), Intelenet is managed by Bhupender Singh (IIM and IIT graduate), who was recognized as “CEO of the year” in 2018 at the ET Now HR Talent Management and Leadership Awards in India.
Intelenet’s growth momentum is strongly positive. For the fiscal year ended March 31, 2018, the company posted revenue of US$449 million, up + 10% year on year, and EBITDA of US$83 million, representing 18.5% of revenue vs. 17.4% the previous year. For fiscal year 2019, the company forecasts significant additional revenue growth of at least + 10% and increased profitability.
Daniel Julien, Chairman and Chief Executive Officer, Teleperformance, commented: “Intelenet’s strong integrated solutions and digital optimization capacities will immediately and significantly enhance Teleperformance’s offering. Intelenet’s amazing footprint in India is also an opportunity for Teleperformance to massively strengthen its presence in this key geography going forward. Thanks to the Intelenet acquisition, Teleperformance is poised to move quickly ahead with its 2018-2022 strategic plan. Moreover, upon closing this deal will be immediately accretive for Teleperformance shareholders, as it should have a positive impact of around + 10 % on the Group’s earnings per share in 2018 on a pro forma basis.”
Amit Dixit, Senior Managing Director and Head of Private Equity India, Blackstone, said: “We are excited with the transfer of ownership to an industry leading company, Teleperformance, because it ensures continuity for Intelenet’s management, employees and customers. In addition, it provides a platform to further accelerate growth by combining Intelenet’s intellectual property with Teleperformance’s global customer base. We offer our full support and best wishes for an exciting future.”
“With the large, global platform of Teleperformance combined with the transformative services capabilities of Intelenet, we will be able to deliver even greater value to the clients of both companies. In addition, the combination will provide greater growth opportunities for our employees”, added Bhupender Singh, Chief Executive Officer, Intelenet.
The transaction will be completed for a total consideration (enterprise value) of US$1.0 billion. The deal is expected to have a positive impact of around + 10% on Teleperformance’s earnings per share before amortization of goodwill in 2018 on a pro forma basis.
The net debt to EBITDA ratio on a pro forma basis should be below 2.5 at the end of 2018 and is expected to come down quickly. The acquisition will be fully financed through debt provided by BNP Paribas, J.P. Morgan and Natixis, which may be replaced in whole or in part by a bond issue, subject to market conditions. Paul Hastings LLP and Linklaters LLP acted as legal advisors to Teleperformance on the acquisition and the financing, respectively, and Sullivan & Cromwell acted as tax advisor. J.P. Morgan acted as the exclusive financial advisor to Intelenet. Simpson Thacher & Bartlett LLP and Platinum Partners acted as legal advisors and Ernst & Young and KPMG acted as accounting and tax advisors, respectively, to Blackstone and Intelenet.
The transaction is expected to close by September 30, 2018, subject to receipt of certain regulatory approvals and other customary closing conditions.
NEW DELHI: Bharti Airtel, India’s telecommunications services provider, today announced the launch of its ultra-fast 5G services in 125 cities. Airtel 5G Plus service is now available to customers in over 265 cities in the country.
Airtel 5G Plus has three compelling advantages for customers. First, it runs on a technology that has the widest acceptance in the world with the most developed ecosystem. This ensures that all 5G smartphones in India seamlessly work on the Airtel network. Second, the company promises to deliver the best experience – between 20 to 30 times higher speeds than today coupled with brilliant voice experience and super-fast call connect. Finally, Airtel 5G Plus network will also be kinder to the environment with its special power reduction solution. Powered by the reliable Airtel network infrastructure, Airtel 5G Plus will provide superfast access to High-Definition video streaming, gaming, multiple chatting, instant uploading of photos et all.
Commenting on the launch, Randeep Sekhon, CTO, Bharti Airtel said, “5G has revolutionized the world of internet, ushering new era of connectivity and communications that will prove to be a game-changer for the country. At Airtel, we remain committed to delivering the highest quality of network and service to our customers as we roll-out 125 more cities today. Airtel was the first in the country to offer 5G services in October 2022, and today’s mega launch is our promise to connect every Airtel customer in the country with ultra-fast Airtel 5G Plus. Our 5G rollout is on track to cover all towns and key rural areas by March 2024.”
Airtel 5G Plus service availability will continue to rapidly expand – including service in all towns and villages in the country soon – as the company is working towards offering nationwide coverage. Airtel is now offering its 5G services in every major city from the upper northern city of Jammu to the southern tip of Kanyakumari.
In the last one year, Airtel has demonstrated the power of 5G with a host of powerful use cases that will change the way customers lead their lives and do business. From India’s first live 5G network in Hyderabad to India’s first private 5G network at the BOSCH facility in Bengaluru to partnering with Mahindra & Mahindra to make its Chakan manufacturing facility, India’s first 5G enabled auto manufacturing unit, Airtel has been at the forefront of 5G innovation.
NEW DELHI: Apple Inc has rolled out a beta programme to enable 5G on Apple devices as the upgrade lets users try out pre-release software.
This software upgrade enables 5G access on Apple devices, as and when service providers Jio, Airtel and Vodafone enable 5G network access, sources said.
Apple Users have to enrol for the Beta Programme on the website, install a profile and download the software.
Jio users using iPhone 12 and above, in cities where JioTrue5G has been rolled out, will be invited to the Jio Welcome Offer. Jio Welcome Offer provides unlimited 5G data at up to 1 Gbps speed to users at no additional cost. However, there is a condition that prepaid users must be on active Rs 239 and above plan. All Postpaid users are eligible for this trial.
Airtel is not providing any special 5G offer like Jio to their users. In the cities/areas in which the Airtel 5G network has been launched, users can trial 5G services as a part of their existing plan, once they have updated the latest Apple Beta software.
While an email sent to Apple did not solicit an immediate response, the firm had last month stated: “We are working with our carrier partners in India to bring the best 5G experience to iPhone users as soon as network validation and testing for quality and performance is completed. 5G will be enabled via a software update and will start rolling out to iPhone users in December”.
Airtel and Jio customers on iPhone 14, iPhone 13, iPhone 12 and iPhone SE (3rd generation) models can experience 5G as part of Apple’s iOS 16 Beta Software Program. The Apple Beta Software Program is open to anyone with a valid Apple ID who accepts the Apple Beta Software Program Agreement during the sign-up process.
If a user has an iCloud account, that is an Apple ID, it is recommended they use that. If they do not have an iCloud account or any other Apple ID, they can create one.
Customers who want to try the beta software should back up their iPhones before installing the beta software. It is recommended to install the beta software only on non-production devices that are not business-critical. Users can also provide feedback to Apple on quality and usability, which helps Apple identify issues, fix them, and make Apple software even better.
The iOS beta comes with the built-in Feedback Assistant app, which can be opened from the Home screen on the iPhone or iPad or from the Dock on the Mac.
Source: Press Trust of India
5g
Nokia wins multi-year deal with Reliance Jio India to build one of the largest 5G networks in the world
NEW DELHI: Nokia has announced that it has been selected as a major supplier by Reliance Jio to supply 5G Radio Access Network (RAN) equipment from its comprehensive AirScale portfolio countrywide in a multi-year deal. Reliance Jio is India’s number one mobile operator and has one of the largest RAN footprints in the world.
Under the contract, Nokia will supply equipment from its AirScale portfolio, including base stations, high-capacity 5G Massive MIMO antennas, and Remote Radio Heads (RRH) to support different spectrum bands, and self-organizing network software. Reliance Jio plans to deploy a 5G standalone network which will interwork with its 4G network. The network will enable Reliance Jio to deliver advanced 5G services such as massive machine-to-machine communications, network slicing, and ultra-low-latency.
Akash Ambani, Chairman Reliance Jio, commented: “We are pleased to be working with Nokia for our 5G SA deployment in India. Jio is committed to continuously investing in the latest network technologies to enhance the experience of all of its customers. We are confident that our partnership with Nokia will deliver one of the most advanced 5G networks globally.”
Pekka Lundmark, President and CEO at Nokia stated: “This is a significant win for Nokia in an important market and a new customer with one of the largest RAN footprints in the world. This ambitious project will introduce millions of people across India to premium 5G services, enabled by our industry-leading AirScale portfolio. We are proud that Reliance Jio has placed its trust in our technology and we look forward to a long and productive partnership with them.”
Nokia has a long-standing presence in India. This new deal will mean that Nokia is now supplying India’s three largest mobile operators.
