Backoffice services provider Genpact Ltd will buy smaller rival Headstrong Corp for $550 million in cash as it seeks to strengthen its financial services offerings. The purchase of privately held Headstrong, which gets most of its sales from the capital markets, will help Genpact's banking, financial services and insurance (BFSI) business as the economy recovers from the recession. "BFSI has slightly better margins than the rest of Genpact's business," Chief Executive Pramod Bhasin told Reuters.
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