CCI approves Blackstone and Mphasis deal
The Dollar Business Bureau The Competition Commission of India (CCI) on Monday cleared the multi-billion dollar deal of Blackstone to acquire more than 50% stake in Mphasis from Hewlett Packard (HP) enterprise. The regulator declared on its website that it has cleared the deal and that Marble II Pte Ltd., a part of Blackstone Group, would complete this acquisition. In April, Blackstone had announced that it will acquire around 50% stake of Hewlett-Packard Enterprise (HPE) in Mphasis for over Rs.7,071 crore, marking it the largest IT deal for a US-based firm in India. HP owns 60.5% stake in Mphasis. Blackstone may pay a purchase price of Rs.430 per share to Hewlett-Packard Enterprise. This transaction would generate a mandatory open offer for a purchase of other 26% ...
Mphasis-Tone Tag tie-up for digital banking solutions
The Dollar Business Bureau Bangalore-based Mphasis and ToneTag on May 16 announced a strategic partnership in order to provide an array of digital banking solutions for retail and banking sectors. According to the deal, IT services provider Mphasis will work together with ToneTag to create solutions and serve as an integration partner for ToneTag's sound-based technology all over the world to facilitate contact-less proximity communication, customer engagement services and location-based services, apart from other solutions. With this partnership, Mphasis will offer frictionless checkout solutions and omni-channel client engagement that can benefit bank branches, dealerships, physical outlets and experience stores, Mphasis said in a statement. Through the agreement, both the companies aim to augment the experience of retail in the offline establishments of both banking ...
