EDS acquires Mphasis for Rs 1,748 cr
EDS acquired 83 mn shares in the company, through an open offer at the cost of Rs 1,748 cr.
By PTI |
MUMBAI: Global IT services giant Electronic Data Systems Corporation has completed the acquisition of Mphasis BFL Ltd, the leading software applications and BPO company.
EDS acquired 83 million shares in the company, amounting to 52 per cent stake, through an open offer at the cost of Rs 1,748 crore.
Following completion of this acquisition, Mphasis would now operate as an independent EDS company, it informed the Bombay Stock Exchange.
With the addition of Mphasis and current expansion plans, EDS's total India work force is projected to exceed 20,000 employees by the year end.
Earlier this month EDS had announced the acquisition of majority stake in Mphasis. More than the required 83 million shares of the Bangalore-based company had been tendered in response to EDS's conditional open offer of Rs 204.5 per share.
The offer, which had opened on May 17 and closed on June 5, was contingent upon EDS acquiring the 83 million shares, other wise the company would have called off the deal.
EDS acquired 83 million shares in the company, amounting to 52 per cent stake, through an open offer at the cost of Rs 1,748 crore.
Following completion of this acquisition, Mphasis would now operate as an independent EDS company, it informed the Bombay Stock Exchange.
With the addition of Mphasis and current expansion plans, EDS's total India work force is projected to exceed 20,000 employees by the year end.
Earlier this month EDS had announced the acquisition of majority stake in Mphasis. More than the required 83 million shares of the Bangalore-based company had been tendered in response to EDS's conditional open offer of Rs 204.5 per share.
The offer, which had opened on May 17 and closed on June 5, was contingent upon EDS acquiring the 83 million shares, other wise the company would have called off the deal.
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