Mphasis Ltd.

NEC is reportedly in initial talks to buy out HP’s majority stake in Mphasis, with this buy NEC is apparently seeking entry into Indian IT service space. Further, the company is also open to offering premium to HP for its stake from its Current Market price (CMP). Presently, HP holds 60.49% stake in Mphasis, which is valued at around Rs 4800 crore at CMP.

Mphasis is a $1 billion global service provider, delivering technology based solutions to clients across the world. Mphasis services clients in banking and capital markets, insurance, manufacturing, communications, media & entertainment, healthcare & life sciences, transportation and logistics, retail and consumer packaged goods, energy & utilities, and governments around the world.