Genpact has agreed to acquire Chicago-based Rightpoint in a deal intended to help clients drive end-to-end digital transformation and win in the growing experience economy. Rightpoint Co-Founder Ross Freedman will continue as CEO of this business.
The convergence of market forces and consumer demand has elevated the role of experience from that of a front-end design function to a strategic lever that has the ability to impact the entire organization, connecting the front, middle and back office. Industry analysts predict rapid growth in experience innovation and have estimated the experience market to be more than $30 billion for middle and back office functions in 2019.
"To compete in a digital-first world, drive better outcomes, and unlock new business models, businesses must be able to drive transformation throughout an organization – from customer experience through to operational processes," Genpact President and CEO 'Tiger' Tyagarajan said in a statement. "In the next two years, the fusion of experience innovation and process innovation will become 'table-stakes' as organizations look to reposition themselves in the market. I am very excited to have Ross and the very talented Rightpoint team join Genpact as we together help transform our clients' businesses in this experience economy."
Freedman added: "We have always believed that every company is either a technology company today or will need to reinvent themselves to become one tomorrow. To thrive in the experience economy, organizations must successfully redesign and transform all aspects of their business – from the front office to the back office. Joining Genpact allows us to realize our vision of helping clients succeed at the speed of innovation."
Genpact is a global professional services firm based in New York.
Terms of the transaction are not disclosed. The acquisition is subject to customary closing conditions, including the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act. Morgan Stanley & Co. LLC acted as the exclusive financial adviser to Genpact. CG Petsky Prunier, part of the Canaccord Genuity Group, served as the exclusive financial adviser to Rightpoint.
