Corporate Updates

Karvy-Mphasis deal gets Competition Commission nod

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dealThe Competition Commission of India (CCI) reportedly gave green signal to Karvy Data Management Services’ proposed acquisition of domestic business process management business of Mphasis.

“The proposed deal is not likely to have an appreciable adverse effect on competition in India,” CCI said.

This is Mphasis’ second definitive agreement further to the recent signing with Hinduja Global Solutions (HGS) to transfer over 7000 employees which was roughly two-third of the India Domestic Voice business.

With this current agreement, over 2000 employees would be transferred to KDMSL.

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