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Blackstone Seeks Control of MPhasis for Up to $2.8 Billion

  • Abu Dhabi Investment, UC Investments will partner Blackstone
  • Shares of MPhasis rise more than 6% in Mumbai after open offer
Updated on

Blackstone Group Inc. offered to take a controlling stake in Indian IT outsourcing services provider Mphasis Ltd. in a deal worth as much as $2.8 billion, as demand for cloud computing surges amid the pandemic.

Funds managed by Blackstone Capital Partners VIII and Blackstone Capital Partners Asia have teamed up with long-term investors including Abu Dhabi Investment Authority and UC Investments to take a majority stake in Mphasis, the private equity firm said in a statement on Monday. They’re buying a 55.31% stake from Blackstone Capital Partners VI fund.