HPE sells stake in Mphasis to Blackstone for about $825 mln

Blackstone has acquired Hewlett Packard Enterprise‘s stake in Mphasis Limited for about $825 million. Based in Bangalore, Mphasis is an IT services provider.

PRESS RELEASE

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.

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Hewlett Packard Enterprise (HPE) is an industry leading technology company that enables customers to go further, faster. With the industry’s most comprehensive portfolio, spanning the cloud to the data center to workplace applications, our technology and services help customers around the world make IT more efficient, more productive and more secure.