Technology

EDS increases Mphasis stake

EDS Corp will boost its stake in the recently acquired Indian company Mphasis BFL Ltd from 52% to 62% in a swap of Mphasis shares for EDS shares. Under the transaction, Mphasis shareholders will receive five EDS shares for every four Mphasis shares.

CBR Staff Writer July 26, 2006

The Mphasis board and the EDS India board approved the merger, which should pave the way for EDS’ consolidated Indian operations to be in place by December. With Mphasis’ 11,000 Indian employees, EDS should have 20,000 workers in India by the end of the year.

Mphasis shares rocketed nearly 17% on the Bombay Stock exchange following the news, to close at INR 157.25 ($3.36).

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