Teleperformance has reached a deal to acquire US-based BPO provider Senture for US$400 million, gaining wider access to US government agencies that often outsource their business functions to private providers.
Senture is closely connected with the US government because more than 80% of its revenue comes from the back-office services it provides to various government agencies.
Headquartered in London, Kentucky, the BPO operator employs 4,500 people, most of whom are currently working from home. The company was founded in 2003 and makes around $192 million in revenue annually.
“Senture’s citizen support activities are specifically designed to handle queries in healthcare, education, transportation, and social services,” stated Teleperformance in a press release.
The Paris-based company said the acquisition will reinforce its “citizen lines of service”, a business vertical predicted to experience enormous growth in the years to come.
“Senture is a truly differentiated asset in the government BPO industry,” said Alex Wolf, Managing Partner at Kingswood, a Los Angeles-based investment firm that held a controlling stake in the BPO for many years.
The French BPO giant is seeing record growth in profit in recent months. It posted US$287 million in profit for the first six months of 2021, an increase of more than $200 million compared to the same period the previous year.
Meanwhile, First Source Solutions, an India-based IT/BPO firm, has announced its decision to purchase American Recovery Services, a legal collections network headquartered in California.