Market News

Genpact Acquires Hoodoo Digital, Expands Experience Business

Global professional services provider Genpact Ltd. (G) has acquired a digital experience consultancy firm, Hoodoo Digital, thereby expanding its experience business, Rightpoint.

The acquisition is in line with Genpact’s strategy to combine experience and process innovation and help its clients in achieving end-to-end digital transformation. Further, the deal will expand Rightpoint’s capabilities in managing its clients’ content, commerce, and marketing operations.

Utah-based Hoodoo Digital is a Platinum-level Adobe solution partner that creates innovative customer experiences for companies across several industries.

The Chief Strategy Officer and Global Business Leader, Enterprise Services, Genpact, Katie Stein, said, “The combination of Rightpoint’s tremendous experience expertise with Hoodoo Digital’s deep knowledge of Adobe solutions will allow our clients to speed their customer experience transformations to drive growth.”

Ron Shamah, the CEO of Rightpoint, said, “Hoodoo Digital’s deep knowledge of Adobe solutions is a critical unlock to advance Rightpoint’s leadership in delivering superior experience-led transformation.”

About Genpact

Headquartered in Bermuda, Genpact offers business process management and information outsourcing services. It focuses on designing and running intelligent operations and transformation services that include digital, consulting and analytics services.

Shares of the company closed 1.1% up on Tuesday at $53.57.

Wall Street’s Take

Last month, Robert W. Baird analyst David Koning reiterated a Buy rating on the stock with a price target of $62 (15.7% upside potential).

Overall, the stock has a Moderate Buy consensus rating based on 2 Buys and 2 Holds. The average Genpact stock prediction of $59.50 implies 11.1% upside potential. Shares have gained 31.3% over the past year.

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