03.02.2010 14:28:00
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Genpact Acquires Symphony Marketing Solutions
Genpact Limited (NYSE: G), a leader in managing business processes for companies around the world, today announced the acquisition of Symphony Marketing Solutions, Inc. (SMS), a leading provider of analytics and data management services with expertise in the retail, pharmaceutical and consumer packaged goods industries. SMS has more than 1,200 employees in India and the United States. Concurrently with the closing of the SMS acquisition, Information Resources, Inc. (IRI), one of the world’s leading providers of enterprise market information solutions and services and a strategic client of SMS, has executed an eight-year contract under which SMS will provide end-to-end data management and analytics services to IRI.
Genpact was one of the first companies to offer high-end analytics services from delivery centers in India and today is one of the largest global providers of the full spectrum of analytics services. The acquisition of SMS expands Genpact’s scale and depth in the retail, pharmaceutical and consumer packaged goods industries and reinforces Genpact’s leadership position in the knowledge process outsourcing industry.
Customer transactions are generating billions of data points a year, but the skills required to effectively manage, integrate, and analyze the massive quantities of data are beyond the core competencies of many companies. Genpact has developed modular analytics processes that can be easily embedded in a client’s information management systems to convert this data into insights. Combined with our rigorously scientific Smart Enterprise Processes (SEPSM), Genpact uses these insights to help companies increase sales, reduce costs and improve business effectiveness.
"This acquisition allows both companies to combine expertise and significantly enhance the value we bring to our clients,” said Pramod Bhasin, president and CEO of Genpact. "SMS has a strong client-centric and performance driven culture that aligns very well with Genpact. SMS brings deep domain expertise in the retail, pharmaceutical and consumer packaged goods verticals. This expertise will not only allow us to offer a broader range of services ranging from core finance and accounting, procurement and supply chain to data management and advanced analytics solutions, but will also enhance our Smart Enterprise Processes (SEPSM) in these verticals by leveraging strong insights to deliver accelerated business impact to clients worldwide.”
"As SMS and its parent company Symphony Technology Group (STG) assessed ways to build leadership in the data management and marketing operations space, we realized the need to have critical mass in terms of size, scale and client relationships to significantly accelerate our growth and to enable IRI and other clients to offer even more value to their end-customers,” said Dr. Romesh Wadhwani, STG’s founder, chairman and CEO. "The combination of SMS’s domain expertise and capabilities in the retail, pharmaceutical and consumer packaged goods verticals with Genpact’s scale, breadth of services, global delivery footprint, Lean Six Sigma approach, and unparalleled process expertise, creates a compelling value proposition for our clients and employees to drive growth,” he added.
About Genpact
Genpact is a leader in managing business processes, offering a broad portfolio of enterprise and industry-specific services. The company manages over 3,000 processes for more than 175 clients worldwide. Putting process in the forefront, Genpact couples its deep process knowledge and insights with focused IT capabilities, targeted analytics and pragmatic reengineering to deliver comprehensive solutions for clients. Lean and Six Sigma are ingrained in the company’s culture, which views the management of business processes as a science. Genpact has developed Smart Enterprise Processes (SEPSM), a groundbreaking, rigorously scientific methodology for managing business processes, which focuses on optimizing process effectiveness in addition to efficiency to deliver superior business outcomes. Services are seamlessly delivered from a global network of centers to meet a client’s business objectives, cultural and language needs and cost reduction goals. Learn more at www.genpact.com.
About Symphony Marketing Solutions
Founded as part of the Symphony Technology Group family of companies, Symphony Marketing Solutions (SMS) is now the gold standard for creation of both market and customer insights. This is made possible by our globally sourced data management and analytical services, deep Sales and Marketing expertise, and a services organization that executes with uncompromising attention to quality and security. Employing over 1,200 data, analytics and sales/marketing experts worldwide, SMS leverages a multi-shore delivery model to provide rapid, responsive and results-driven solutions to savvy marketers in key industries. Symphony Marketing Solutions is the preferred alternative for many of the world's strongest brands. More information is available at www.symphonyms.com.
Safe Harbor
This press release contains certain statements concerning our future growth prospects and forward-looking statements, as defined in the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those in such forward-looking statements. These risks and uncertainties include but are not limited to a slowdown in the economies and sectors in which our clients operate, a slowdown in the BPO and IT Services sectors, the risks and uncertainties arising from our past and future acquisitions, our ability to manage growth, factors which may impact our cost advantage, wage increases, our ability to attract and retain skilled professionals, risks and uncertainties regarding fluctuations in our earnings, general economic conditions affecting our industry as well as other risks detailed in our reports filed with the U.S. Securities and Exchange Commission, including Genpact’s Annual Report on Form 10-K. These filings are available at www.sec.gov. Genpact may from time to time make additional written and oral forward-looking statements, including statements contained in our filings with the Securities and Exchange Commission and our reports to shareholders. Although Genpact believes that these forward-looking statements are based on reasonable assumptions, you are cautioned not to put undue reliance on these forward-looking statements, which reflect management’s current analysis of future events. Genpact does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of Genpact.
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