EDS-India to merge with MphasiS BFL; raise stake to 61.8 per cent

The board of directors of Mphasis BFL also approved the share entitlement ratio of five equity shares in the company of Rs 10 each against four equity shares of Rs 10 each of EDS-India, subject to regulatory and other approvals.

According to the proposed scheme of amalgamation, on approval, the merger will take effect from the appointed date, which is April 1, 2006. All assets, liabilities and obligations of EDS India as per the scheme of amalgamation will vest in MphasiS BFL with effect from that date.

EDS had earlier acquired a majority stake in Mphasis BFL in a $380 million cash deal.

MphasiS BFL provides information technology and business process outsourcing services to around 2,000 companies around the globe. The company also assists its clients in innovating and streamlining business processes by offering custom solutions for technology and operations outsourcing.

The company offers solutions in financial services, logistics and technology verticals, spanning across architecture, application development and integration, application management and business process outsourcing, including the operation of large-scale customer contact centres.

MphasiS BFL specialises in multi-channel solutions, which optimise sales and service processes from a cost and quality perspective.