Hewlett Packard Enterprise completes the sale of its equity stake in Mphasis Limited
Sep 1, 2016
PALO ALTO, CA--(Marketwired - Sep 1, 2016) - Hewlett Packard Enterprise (NYSE: HPE) today completed the pending sale of its equity stake in Mphasis Limited, a publicly-listed IT services provider in Bangalore, to private equity funds managed by Blackstone (NYSE: BX), one of the world's leading investment firms. Blackstone purchased 100% of HPE's stake in Mphasis for INR 430 per share, or approximately $825 million.
In conjunction with the sale, HPE also entered into a five-year renewal of its existing master services agreement with Mphasis, whereby Mphasis will continue to provide strategic service delivery capabilities to HPE.