Genpact Limited, a business process management and technology services firm, announced that affiliates of Bain Capital Partners have agreed to purchase approximately 68 million Genpact common shares from entities affiliated with General Atlantic and Oak Hill Capital Partners for $14.76 per share, or approximately $1 billion.

Under the terms of the transaction, South Asia Private Investments and other affiliates of Bain Capital will own approximately 30% of Genpact’s outstanding shares.

At the closing, Bain Capital will name four directors to Genpact’s board to replace the current GA and Oak Hill Capital directors. After the transaction, the selling shareholders will, in the aggregate, own approximately 10% of Genpact’s outstanding shares.

Robert Scott will continue to serve as chairman of the board of Genpact and NV (Tiger) Tyagarajan will continue to serve as president and CEO.

“Genpact will remain an independent public company, and I, along with our management team, will continue to pursue our strategic objectives,” said Tyagarajan. “Bain Capital has a long-term perspective, which is critical to building value, particularly in a company like ours. We look forward to working with Bain Capital as we continue to make enterprises around the world run better by continuously improving their business processes and run smarter through the innovative combination of technology, data analytics and process expertise, resulting in better business outcomes.”

To read the Genpact news release, click here.