EDS buys firm in India - Technology - International Herald Tribune: "Electronic Data Systems, the world's second-largest computer services company after IBM, said Thursday that it had acquired a controlling stake in Mphasis, an Indian outsourcing company, for $380 million. EDS acquired 52 percent of Mphasis, buying 83 million shares at 204.50 rupees, or $4.50, each. The price was 40 percent more than the closing price for Mphasis stock.
EDS, International Business Machines and Accenture are among companies that are expanding in India as demand grows for low-cost software development and payment processing services. Mphasis, a midsize company based in Bangalore, reported annual revenue of 9.4 billion rupees and net profit of 1.5 billion rupees in its latest fiscal year, which ended in March.
EDS said that Jerry Rao, chief executive of Mphasis, would retain his job following the acquisition, which is expected to be completed by the end of this month."
Friday, June 09, 2006
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2 comments:
I think it's interesting how companies now are throwing money into India not as an outsourcing haven, but as part of revenue-building. See the MyEclipse blog for an interesting perspective on IBM's recent activities. Love your postings!
Bet they did it for the cheap labor.
aj
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