Mphasis concludes deals with Karvy and Hinduja Global

NEW DELHI: HP-owned IT services firm Mphasis today said it has completed the deals with Karvy Data Management Services and Hinduja Global Solutions.

The transactions are complete effective today, Mphasis said in separate regulatory filings.

"We are glad to inform that the company had complied with the closing conditions and the transaction has been completed with Karvy Data Management Services Ltd effective September 1," it said.

In a similarly worded filing, Mphasis said it has closed the deal with Hinduja Global Solutions.

Under the combination, Karvy Data Management was to acquire Mphasis' domestic business process management or outsourcing (BPM/BPO).

This includes certain contracts pertaining to clients located in Bhubaneswar and Baroda, identified lease agreements and around 2,000 employees.

Karvy Data Management is a provider of business and knowledge process services.

In a separate deal, Hinduja Global Solutions was to acquire a significant portion in Bangalore-based Mphasis BPO business.

Recently, both transactions were approved by Competition Commission of India.