Hewlett Packard Enterprise (HPE) Announces Completion of ~$825M Mphasis Stake Sale

September 1, 2016 4:07 PM EDT

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Hewlett Packard Enterprise (NYSE: HPE) completed the pending sale of its equity stake in Mphasis Limited, a publicly-listed IT services provider in Bangalore, to private equity funds managed by Blackstone (NYSE: BX), one of the world's leading investment firms. Blackstone purchased 100% of HPE's stake in Mphasis for INR 430 per share, or approximately $825 million.

In conjunction with the sale, HPE also entered into a five-year renewal of its existing master services agreement with Mphasis, whereby Mphasis will continue to provide strategic service delivery capabilities to HPE.

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