Set up by HDFC and TCS in 2000 with a 50-50 equity, July saw TCS offloading its stake in the JV to HDFC for a consideration of Rs 161 crore. A couple of months later Barclays paid Rs 164 crore for the 50% stake of HDFC, in addition, they also entered into an alliance whereby Intelenet became the preferred BPO vendor for Barclays. It later augmented its European presence through an agreement with Transcom WorldWide to offer services in 39 languages to primarily European clients.