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Blackstone Takes Control Of India's Mphasis In Up To $1.1 Billion Deal

Ron Burgundy

By Ron Burgundy,
in Tech News

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Ron Burgundy

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An employee walks past the Mphasis logo at the company's office in BengaluruBy Himank Sharma and Devidutta Tripathy MUMBAI (Reuters) - Blackstone Group is buying a majority stake in Indian IT outsourcing services provider Mphasis Ltd from Hewlett Packard Enterprise Co in an up to $1.1 billion deal, in the U.S. asset manager's single-biggest investment in India. The all-cash deal reinforces Blackstone's bullish outlook on the outsourcing business, where western clients send IT jobs to countries such as India to cut costs. In December, Blackstone announced the purchase of a minority stake in India's IBS Software for $170 million.




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