(NSE:MPHASIS) - IT is in flavor......> Mphasis is a mid-sized IT company primarily engaged in providing IT / ITeS / BPO services catering to clients in the banking and capital markets, emerging industries, information technology, communication and entertainment and insurance. The company derives its revenues primarily from software services & projects, licensing arrangements & application services, infrastructure outsourcing services.
> Headquartered in Bangalore, the company has presence across US, Europe, Australia, Asia Pacific, Japan and India. Mphasis was incorporated in August 1992, as BFL Software Limited. Its name was changed to Mphasis BFL Limited in July 2000 after the merger of the US-based IT consulting company Mphasis Corporation (founded in 1998) and the Indian ITservices company BFL Software Limited which was founded in 1993. In June 2006, Electronic Data Systems Corporation acquired Mphasis, and later EDS was acquired by Hewlett-Packard; thereby resulting in Mphasis becoming a 60.47% subsidiary of HP. However, in September 2016, global private equity major Blackstone Group acquired HP’s stake through its SPV –Marble Pte II Limited. During May 2018, Marble II Pte. sold off 8% of its stake in the company for ~Rs.1,400 crore, reducing its shareholding to 52.3%.
