Blackstone Will Buy Mphasis for Up to Rs 7,071 Crore [ Current Affairs ]
About Blackstone: Blackstone is an America based multinational private equity, investment banking, alternative asset management and financial services corporation. It is located at New York City of America. It was founded by Peter G. Peterson and Stephen A. Schwarzman in 1985.
Blackstone focuses inprivate equity, credit and hedge fund investment strategies, as well as financial advisory services like mergers and acquisitions (M&A), restructurings and reorganizations and private placements.
Its business sectors are:
- Corporate private equity,
- Investment banking and Financial Advisory,
- Marketable Alternative Asset management and
- Real Estate.
- Mphasis is IT Services Company located at Bangalore, India.
- It provides infrastructure technology and applications outsourcing services, as well as architecture guidance, application development and integration and application management services.
- It is at 7th rank in India IT companies and overall 165 rank byFortune India 500 in 2011.
- It was founded by Jerry Rao and Jeroen Tas in Santa Monica in 1998.
About the deal with Mphasis of Blackstone:
- Blackstone will buy Mphasis for up to Rs. 7, 071 crore ( $1.1 billion), which will be largest IT deal for the US-based firm in India.
- Currently, Hewlett Packard Enterprise (HPE) owns 60.5 % of BSE and NSE-listed Mphasis.
- The purchase price concern will differ between Rs. 5, 466 crore and Rs. 7, 071 crore ( $825 million - $1.1 billion).
- Mphasis’ last 12 months revenue was about $904 million and net profit of $104 million.
- Published on: April 4, 2016