AZB and NDA advise on Genpacts acquisition of Atyati Technologies

Business process outsourcing major, Genpact has acquiring Bangalore-based Atyati Technologies, a technology platform provider for the rural banking sector in India for an undisclosed amount..AZB & Partners advised Genpact with a team led by Delhi Partner Vinati Kastia along with Senior Associates Bharat Bahadur and Satyajit Gupta and Associate Shaili Parsheera..Nishith Desai Associates advised Atyati Technologies..According to the press release, this acquisition provides Genpact with a leading technology platform in the rural banking space with last mile functionality that allows Indian banks to serve rural India..Founded in 2006 and backed by VenturEast, Atyati technologies is based in Bangalore and currently partners with six large public sector banks and one private sector bank. VenturEast had invested $2.5 million in Atyati in August 2008 and would exit the firm with the acquisition by Genpact..Atyati’s platform serves 2.5 million end customers in 6,500 rural villages at the present time, with expected expansion to 9.8 million end customers in more than 16,000 villages by 2013. Atyati’s 60 employees will become Genpact employees and will work closely with Genpact’s India-to-India and Global IT Services business, reports Dealcurry.