HPE looking to sell Mphasis for $1 billion, report says

Hewlett Packard Enterprise is looking to sell its controlling share of Mphasis for $1 billion, according to a report in the Times of India.

The newspaper said that Palo Alto-based HPE has retained Citigroup to handle the auction of the IT company. An HPE spokesperson said the company does not comment on “rumors and speculation.”

A major percent share of the Bangalore, India-based IT company was acquired in 2006 by EDS, which was then acquired by Hewlett Packard in 2008. HPE now owns 60 percent of Mphasis shares, with an estimated value of about $1 billion, according to the newspaper.

Last November, HP split into two companies, with the systems and services part of the computer giant rechristened as HPE.

As part of that split, HPE announced plans for large layoffs in its overseas workforce, especially in services.

Photo: HP Enterprise logo (Hewlett Packard Enterprise)

 

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