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Offshore BPO major Genpact has announced the acquisition of EmPower Research.
This is a US-headquartered media and business research company with capabilities in social media research, media monitoring and measurement.
In April this year, Genpact had acquired Headstrong Corporation — a consulting and IT services firm with a specialised focus on capital markets and healthcare domains — for $550 million (Rs 2,420 crore) in cash.
Thursday's acquisition, on the other hand, is in research and analytics space, a market where outsourcing demand is now starting to explode.
According to a study by Nasscom, business research outsourcing presents a $2.2-billion opportunity, and data analytics about $1.15 billion by 2015.
Genpact said the deal is expected to close by the end of the month. But it did not disclose either the size or terms of the deal. This acquisition of EmPower Research will add to Genpact's Smart Decision Services business, which comprise analytics, research, re-engineering and risk management services. EmPower has about 360 employees based in New York, Bangalore, Cincinnati, New Jersey, San Francisco, and London.
“Increasingly, companies are feeling the need to track social media conversations to understand consumer preferences and perceptions towards their products and services. EmPower Research provides a range of services including social and traditional media monitoring and measurement, event impact research, brand tracking, and data management,” a statement said.
EmPower Research's client list includes large pharmaceutical companies, PR agencies, technology firms, and consumer packaged goods companies across the world, the statement added.
‘fantastic fit'
Commenting on the acquisition, Mr N.V. Tyagarajan, President and CEO of Genpact, said that EmPower was a “fantastic fit” and offered numerous cross-sell opportunities, particularly in the pharmaceutical and consumer packaged goods industries.
Genpact, he said, saw a significant increase in demand for its smart decision services.
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