New York and Mumbai, April 5 2016: Indian IT services provider Mphasis is once more changing hands. Six years after acquiring the company, as part of its acquisition of EDS, Hewlett Packard Enterprise has relinquished control to leading global investment bank, Blackstone. HPE currently owns 60.5% of Mphasis.
Mphasis was formed in June 2000 after the merger of the US-based IT consulting company Mphasis Corporation (founded in 1998) and the Indian IT services company BFL Software Limited (founded in 1993).
Mphasis offers Applications, Business Process Outsourcing and Infrastructure Services. This deal represents the largest acquisition by Blackstone in India.
Comments Arup Roy, Research Director, Gartner: “This deal is going to give Mphasis an opportunity to come out of shadows that it had walked into. Ever since its acquisition by EDS and then with HP acquiring EDS, Mphasis went into oblivion. Although, it always had its own legal identity with its own business and go-to-market, however it never was able to establish itself as a visible and credible provider beyond the fact that it was an HP entity. The Blackstone buyout would allow it come out of its oblivion status and will give it an opportunity to come back into the mainstream IT services as a force to reckon with. Moreover, Blackstone portfolio companies could in itself be an opportunity to mine.”