Business Process Outsourcing (BPO) has been leading the growth of outsourced business services. While technology outsourcing and transaction processing have historically defined the sector, BPO is rapidly expanding its reach into areas that blur the lines between what is considered core versus non-core corporate functions. While still early in its evolution, BPO is redefining how companies are addressing a wide variety of business processes including human resources, finance and accounting, materials procurement, customer care, and energy management. The list continues to expand almost daily.

While traditional outsourcing models focused on reduced costs, today's BPOs layer on top value-added service -- expanding the concept of cheaper, faster and better. The ability to address business processes through such outsourced approaches that leverage proprietary methodologies and technologies has translated into high demand and premium valuations. While sustaining strong valuations in the up and down public market, greatest demand has been viewed in the M&A market as large aggregators seek business expansion and innovative solutions, which are largely being driven by emerging private firms.