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August 9, 2022
Finance Technologies

Blackstone to acquire additional stake worth $2.8bn in IT firm Mphasis

New York investment firm Blackstone has agreed to acquire an additional stake in Indian IT services firm Mphasis as part of a deal worth up to $2.8 billion. The Bangalore-based company claims to work with 35 of the top US banking, financial services, and insurance firms. Mphasis CEO Nitin Rakesh According to a Bloomberg source, Blackstone intends to build Mphasis into a $10 billion-valued company over the next four years. That’s more than double its current valuation of around $4.4 billion. A Business Standard source corroborates Blackstone’s strategy. “When it [Blackstone] acquired the company in 2016, the market cap was…
Blackstone to acquire additional stake worth .8bn in IT firm Mphasis

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