Mphasis

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Mphasis Limited
Company type
Public
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HeadquartersBengaluru, Karnataka, India
Key people
Nitin Rakesh (CEO)
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OwnerBlackstone (39.85%)[1]
Number of employees
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Websitewww.mphasis.com
Footnotes / references
Financials as of 31 March 2025.[2]

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Mphasis Limited is an Indian multinational information technology service and consulting company based in Bengaluru.[4][5] The company provides infrastructure technology and applications outsourcing services, as well as architecture guidance, application development and integration, and application management services. It serves financial services, telecom, logistics, and technology industries. Mphasis was ranked #7 in Indian IT companies and overall #189 by Fortune India 500 in 2019.[6] In April 2016, Hewlett Packard Enterprise sold the majority of its stake in Mphasis to Blackstone Group LP for around US$1 billion.[7]

History

File:Mphasis - Unlease the Next.jpg
Old logo of Mphasis

Formation and early years

Mphasis was formed in June 2000 after the merger of the US-based IT consulting company Mphasis Corporation (founded in 1998 in Santa Monica by Jerry Rao[8] and Jeroen Tas.[9]) and the Indian IT services company BFL Software Limited (founded in 1992).[10]

In June 2006 Electronic Data Systems (EDS) purchased a controlling stake in the company (42%) for $380 million and operated the company as an independent EDS unit.[11]

As a Hewlett-Packard company

On 13 May 2008, Hewlett-Packard confirmed that it had reached a deal with Electronic Data Systems to acquire the company for $13.9 billion.[12] The deal was completed on 26 August 2008.

In September 2009, Mphasis changed its brand identity by dropping EDS association to become "Mphasis, an HP Company" after HP retired EDS Brand to become "HP Enterprise Services". Mphasis operated as an independent HP subsidiary with its own board and continued to be listed on Indian markets as "Mphasis Limited".[13] HP owned close to 62% in Mphasis and Mphasis got around 50% of its revenues from HP.[14]

Mphasis marked $1 billion in revenues and registered a consolidated revenue of RS 50.37 billion ($1,099.3 million) for the year ended 31 October 2010 becoming the sixth Indian IT company to do that.[15]

In February 2014, Mphasis changed its logo and the brand name as Mphasis Unleash the Next, seeking to boost business other than from parent Hewlett-Packard, its largest client.[16]

On 30 June 2015, Mphasis announced the signing of a definitive agreement to transfer a significant portion of its domestic business, to Hinduja Global Solutions (HGS). On 10 July 2015, Mphasis announced it will move 2,000 employees to Karvy Data Management Services Ltd (KDMSL) as part of a deal signed to partially sell its domestic outsourcing business to Karvy.[citation needed]

Under Blackstone Group

In 2016, after Hewlett-Packard announced plans to sell its controlling stakes in Mphasis, three companies Tech Mahindra, Apollo Global Management and Blackstone Group entered the race to acquire Mphasis. Tech Mahindra emerged as the frontrunner[17] before it decided to pull out in order to avoid a bidding war with other companies.[18] Later that year, Blackstone acquired Hewlett-Packard's 60.17% stake in Mphasis for ₹5,466 crore ($815 million); Blackstone's subsequent open offer to acquire an additional 26% from public shareholders failed.[19][20]

On 29 January 2017, Nitin Rakesh joined Mphasis as the chief executive officer and director.[21] On 7 Aug 2018, the Mphasis Board announced a buyback offer for its shareholders at an approximate premium of 17.4%.[22]

In April 2021, Blackstone committed up to $2.8 billion to acquire controlling stake in Mphasis. A wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA), UC Investments and other long-term investors will be co-investing along with Blackstone.[23]

Company

Offices

File:Bagmane Tech Park, Bangalore (2024) 18.jpg
Mphasis at Bagmane Tech Park, Bangalore

Mphasis has more than 60 sales and delivery centers in India, US, UK, China, Australia, Canada, Japan, France, Germany, Netherlands, Belgium, Ireland, Poland, Sweden, Switzerland, Hungary, Singapore, Indonesia, Tunisia, Mauritius, New Zealand, Taiwan, Mexico, Costa Rica, Argentina, Malaysia, Philippines and Saudi Arabia.[24] In India, it has centers in Bangalore, Chennai, Pune, Hyderabad, Mumbai, Noida and Mangalore.[25]

Acquisitions

  • Navion Software, China (2002)[26]
  • Kshema Technologies, Bangalore, India (2004)[27]
  • Onida Infotech Services (Mirc Electronics SAP Division), Mumbai, India (2004)[28]
  • Princeton Consulting, UK (2005)[29]
  • Eldorado Computing, US (2005)[30]
  • AIG Systems Solutions, India (2009)[31]
  • Fortify Infrastructure Services, US (2010)[32]
  • Wyde Corporation, US (2011)[33]
  • Digital Risk LLC, US (2012)[34]
  • Stelligent, US (2018)[35]
  • Datalytyx (2020)
  • Blink UX (2021)[36]

Mergers

  • BFL Software and MphasiS (March 2001)[37][38]

Recognition

From 2019 to 2025, the company was included in the Fortune India 500 list.[39][40][41][42][43][44][45]

See also

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References

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  1. ^ Page Module:Citation/CS1/styles.css has no content."Mphasis sees Rs 7,066 cr block deal as Blackstone offloads 15.6% stake". Moneycontrol. Retrieved 10 June 2024.
  2. ^ Page Module:Citation/CS1/styles.css has no content."Statement of Consolidated Audited Financial Results for the quarter and year ended 31 March 2025" (PDF). Mphasis Limited. Retrieved 2 May 2025.
  3. ^ Page Module:Citation/CS1/styles.css has no content."Mphasis to double presence in UK with innovation hub for quantum expertise". The Economic Times. 10 September 2024. Retrieved 28 May 2025.
  4. ^ Page Module:Citation/CS1/styles.css has no content."(Jerry) Rao: 2006 Distinguished Entrepreneurial Alumni Award Winner". Chicagobooth.edu. Archived from the original on 28 May 2010. Retrieved 19 August 2010.
  5. ^ Page Module:Citation/CS1/styles.css has no content."Leeds: Indian tech firm to create 1,000 jobs in city". BBC News. 30 September 2022. Retrieved 6 August 2023.
  6. ^ Page Module:Citation/CS1/styles.css has no content."Fortune India 500 2019: This Year's Top Performing Companies". Fortune India. Retrieved 24 January 2026.
  7. ^ Page Module:Citation/CS1/styles.css has no content."Press Releases Archives". 17 May 2023.
  8. ^ Page Module:Citation/CS1/styles.css has no content."(Jerry) Rao: 2006 Distinguished Entrepreneurial Alumni Award Winner". Chicagobooth.edu. Archived from the original on 28 May 2010. Retrieved 19 August 2010.
  9. ^ Jeroen Tas: Executive Profile and Biography - Business Week[dead link]
  10. ^ Page Module:Citation/CS1/styles.css has no content."Company History of Mphasis". Moneycontrol.com. Retrieved 19 August 2010.
  11. ^ EDS acquires majority stake in Mphasis
  12. ^ HP to buy EDS for 13.9 Billion US Dollars, to expand services
  13. ^ Page Module:Citation/CS1/styles.css has no content."Mphasis become HP Company" (PDF). Archived from the original (PDF) on 26 November 2010. Retrieved 19 August 2010.
  14. ^ Tough time ahead for Mphasis as Hewlett Packard cut its sales forecast
  15. ^ Page Module:Citation/CS1/styles.css has no content."Mphasis crosses $1 billion revenue mark, PAT up 20%". The Times of India. 23 November 2010. Retrieved 23 June 2011.{{cite news}}: CS1 maint: deprecated archival service (link)
  16. ^ Page Module:Citation/CS1/styles.css has no content."MphasiS unveils new brand identity". Businessline. 5 February 2014.
  17. ^ Page Module:Citation/CS1/styles.css has no content."Tech Mahindra leads race to buy Mphasis". The Times of India. Retrieved 27 April 2016.
  18. ^ Page Module:Citation/CS1/styles.css has no content."Tech Mahindra pulls out of race to acquire Mphasis". Business Standard. Retrieved 27 April 2016.
  19. ^ Page Module:Citation/CS1/styles.css has no content."Blackstone buys control of Mphasis". The Hindu. Retrieved 27 April 2016.
  20. ^ Page Module:Citation/CS1/styles.css has no content."Blackstone's open offer for Mphasis fails; ends with 60% stake". VCCircle. Retrieved 10 June 2024.
  21. ^ Page Module:Citation/CS1/styles.css has no content."Mphasis was a jewel hidden in the HP family: new CEO". The Times of India.
  22. ^ Page Module:Citation/CS1/styles.css has no content."Mphasis buyback offer opens today". Businessline. 7 December 2018.
  23. ^ Page Module:Citation/CS1/styles.css has no content."Blackstone, other investors commit up to $2.8 billion to acquire controlling stake in Mphasis". The Hindu. 26 April 2021.
  24. ^ Mphasis Offices
  25. ^ Page Module:Citation/CS1/styles.css has no content."This IT Firm With 29K Employees Is Offering Work From Home Jobs; Women-Only Hiring Is". Trak.in - Indian Business of Tech, Mobile & Startups. 15 March 2022. Retrieved 22 June 2022.
  26. ^ Page Module:Citation/CS1/styles.css has no content."Mphasis to acquire Navion Software of China". Archives.infotech.indiatimes.com. 25 October 2002. Retrieved 19 August 2010.
  27. ^ Page Module:Citation/CS1/styles.css has no content."MphasiS to acquire Kshema Technologies". The Hindu. Chennai, India. 3 April 2004. Archived from the original on 22 June 2004. Retrieved 19 August 2010.
  28. ^ MphasiS to buy out SAP division of MIRC Electronics
  29. ^ MphasiS acquires Princeton Consulting in Rs 60 cr deal
  30. ^ Page Module:Citation/CS1/styles.css has no content."MphasiS Buys Eldorado Computing". The New York Times. 15 March 2005. Retrieved 19 August 2010.
  31. ^ Page Module:Citation/CS1/styles.css has no content."MphasiS acquires AIG's IT arm in India". Business Standard. 12 August 2009. Retrieved 19 August 2010.
  32. ^ Page Module:Citation/CS1/styles.css has no content."HP's MphasiS Buys Fortify for Remote Services". Pcworld.com. 8 April 2010. Retrieved 19 August 2010.
  33. ^ Page Module:Citation/CS1/styles.css has no content."Mphasis paid 2-4.5 times sales for Wyde in cash: CEO". Moneycontrol.com. 1 August 2011. Retrieved 1 August 2011.
  34. ^ Page Module:Citation/CS1/styles.css has no content."MphasiS shares surge over 6% on Digital Risk deal". Zee News. 3 December 2012. Retrieved 3 December 2012.
  35. ^ Page Module:Citation/CS1/styles.css has no content."DevOps Automation Services Specialist Stelligent Acquired by Mphasis". Retrieved 16 November 2018.
  36. ^ Page Module:Citation/CS1/styles.css has no content.Shinde, Shivani (22 September 2021). "Mphasis acquires US-based Blink UX for $94 mn in an all cash deal". Business Standard India.
  37. ^ Page Module:Citation/CS1/styles.css has no content."Mphasis Company History - Business Standard News : Page 1". Business Standard. Business Standard.
  38. ^ Page Module:Citation/CS1/styles.css has no content."Mphasis : Merger gains - The Financial Express". mphasis.
  39. ^ Page Module:Citation/CS1/styles.css has no content."Fortune India 500 2019: This Year's Top Performing Companies". Fortune India. Retrieved 24 January 2026.
  40. ^ Page Module:Citation/CS1/styles.css has no content."Fortune India 500 2025: This Year's Top Performing Companies". Fortune India. Retrieved 24 January 2026.
  41. ^ Page Module:Citation/CS1/styles.css has no content."Fortune India 500 2024: This Year's Top Performing Companies". Fortune India. Retrieved 24 January 2026.
  42. ^ Page Module:Citation/CS1/styles.css has no content."Fortune India 500 2023: This Year's Top Performing Companies". Fortune India. Retrieved 24 January 2026.
  43. ^ Page Module:Citation/CS1/styles.css has no content."Fortune India 500 2022: This Year's Top Performing Companies". Fortune India. Retrieved 24 January 2026.
  44. ^ Page Module:Citation/CS1/styles.css has no content."Fortune India 500 2021: This Year's Top Performing Companies". Fortune India. Retrieved 24 January 2026.
  45. ^ Page Module:Citation/CS1/styles.css has no content."Fortune India 500 2020: This Year's Top Performing Companies". Fortune India. Retrieved 24 January 2026.
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