Three years had gone through since Blackstone's investment in Intelenet Global Services, their third largest investment in India.
Excellent progress had been made, but now a new challenge loomed. A large international bank, Globank, was Intelenet's biggest customer. The contract with Globank of Intelenet was set to expire in the next seven months, and all of Intelenet's assets and individuals working on the account, would move to Globank. Amit Dixit, managing director at the Blackstone Group, estimated that in the subsequent four years this would result in Intelenet losing $160 million of revenue and $48 million of EBITDA. Blackstone could either channel large amounts of human and capital resources towards renovating the contract, or focus on growing third-party company at Intelenet. Dixit had to firm up his strategy immediately in order to start dialogues with Globank.
PUBLICATION DATE: September 25, 2012 PRODUCT #: 213036-PDF-ENG
This is just an excerpt. This case is about FINANCE & ACCOUNTING
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