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This is an archive article published on April 8, 2010

Mphasis Ltd to acquire FIS

The HP-owned company has pulled off yet another coup.

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The HP-owned company has pulled off yet another coup.

Leading IT solutions and BPO services provider Mphasis Ltd today said it will acquire IT operations and management services provider Fortify Infrastructure Services in an all-cash deal.

The company has entered into an agreement to fully acquire Fortify Infrastructure Services,Mphasis said in a filing to the Bombay Stock Exchange (BSE).

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The firm,however,has not disclosed the cash paid for this buy-out.

“This acquisition will catapult us ahead as a provider of offshore based remote IT operations and management services,” Mphasis Ltd CEO Ganesh Ayyar said.

The acquisition would give Mphasis access to customers,management team and a platform to provide remote IT operations and management services,the filing added.

Fortify Infrastructure Services is a privately held company with presence in India and the US.

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Shares of Mphasis Ltd were trading at Rs 650.80 on the BSE,up 2.76 per cent from previous close.

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