Indian IT companies in race to buy Spanish firm Accelya

Top Indian IT companies are said to be in race to buy the Spanish IT firm Accelya, sources familiar with development suggest. Accelya Kale, the erstwhile Kale Consultants, which is owned by Accelya is on the block as the parent wants to sell out completely. Indian IT firms TCS, Genpact, WNS are the likely suitors for buying the company.

Valuation expectation for Accelya, which specializes in IT services for airlines, is about $350 million. Accelya has appointed Morgan Stanley and BNP Paribas to run the sale process, sources with direct knowledge said.

Spokesperson of Accelya Kale said, “Accelya Kale is not in talks with any buyers. Accelya Kale is a subsidiary company of Accelya Holding World SL, wherein they hold 74.66% stake. We have no knowledge of any such development at their end. Also as a company policy we refrain from commenting on issues that are speculative in nature.”

TCS said, “We do not comment on market speculation.” Genpact and WNS did not offer any comment to ET Now’s query.