Blackstone inked agreement with Hewlett Packard Enterprise to acquire 60% stake in Mphasis Limited
Mphasis is a leading information technology services provider offering applications, business process outsourcing and infrastructure services.
Blackstone India, the Indian arm of global private equity fund Blackstone Group on 4 April 2016 entered into a definitive agreement with Hewlett Packard Enterprise to buy a majority stake in Mphasis Limited.
Mphasis is a leading information technology services provider offering applications, business process outsourcing and infrastructure services. This deal represents the largest acquisition by Blackstone in India.
As part of the agreement, Blackstone will buy 60.5 percent stake in Mphasis that is currently owned by Hewlett Packard.
Blackstone will pay a purchase price of 430 rupees per share and based on the open offer subscription, the purchase price consideration will vary between 5466 crore and 7071 crore rupees.
About Mphasis Limited
• It has deep vertical expertise in Banking, Financial Services and Insurance (BFSI) sector and strong portfolio focus on New Generation Services including Digital solutions.
• It serves marquee customers across the globe including 6 top global banks, 11 out of 15 top mortgage lenders, and 3 top global insurance companies.
• The company has roughly 24000 employees across 16 countries.
• It is listed on the National Stock Exchange and Bombay Stock Exchange in India.
• It is a US-based company and one of the world’s leading investment firms.
• Its asset management businesses, with over 330 billion US dollars in assets under management, include investment vehicles focused on private equity and real estate on a global basis.
• It has been investing in India since 2005 and has committed to investments over 6 billion US dollars in private equity and real estate.
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