Enquero Acquired by Genpact (NYSE: G)

Transaction Overview

• On January 5, 2021 Genpact (NYSE: G) announced its acquisition of TBP client, Enquero, Inc.
• Enquero is a global technology solutions company that has a unique approach to leverage its IP and deliver data driven digital transformation.
• Genpact (NYSE: G) is a global professional services firm focused on delivering digital transformation services. It drives digital-led innovation and digitally-enabled intelligent operations to its clients.
• This acquisition will accelerate Genpact’s ability to leverage data and cloud technologies to drive digital transformation services through advanced analytics.
• Further details can be found on the news release on company’s website.

TBP Role

• True Blue Partners was the exclusive financial advisor to Enquero in this transaction.
• Enquero engaged TBP in 2019 to help position the company in the M&A marketplace and deliver a great outcome.
• This comes on the heels of a another company building and M&A transaction by TBP announced on Dec 16, 2020.
• This demonstrates TBP’s track record of working with entrepreneurs who have built industry leading IT Services businesses without taking institutional capital. Previously, in another industry leading transaction, TBP organized a $23M minority growth equity co-investing syndicate for OSF Digital with capital from Delta-V and Salesforce Ventures.

Digital Transformation Entering into 2021

• Digital transformation offerings that bring deep domain expertise will be able to deliver more impactful business transformation solutions. They can better understand the data and business processes and therefore be better positioned to apply the data analytics and cloud technologies to transform the essential business operations. In a notable transaction earlier in Dec, Salesforce.com acquired Acumen Solutions, a top 10 Salesforce consulting partner for $570M on the same day it acquired Slack. The purpose for this transaction was reported to bolster its in-house industry expertise across public sector, manufacturing and financial services.
• COVID-19 has led to an acceleration of digital transformation initiatives and transition to cloud technologies. This will further fuel M&A transactions as companies servicing these market needs will look to reposition their offerings. We covered how this was driving M&A trends in an earlier spotlight here and another here.
• Janet Yellen, the incoming Treasury Secretary, has had a track record of dovish stance on interest rate policies. In Sep 2020, Fed chairman Powell had given an outlook for low interest rates through 2023. This in-turn will continue to give the buyers the confidence in and access to low cost-capital to underwrite sizeable, transformative M&A transactions in the near future.

TBP was the exclusive financial advisor to Enquero on this transaction