Mumbai, November 17
American private equity giant Blackstone on Thursday said it will pick up majority stake in digital services firm R Systems International for $359 million or Rs 2,904 crore.
Blackstone has signed definitive agreements with Satinder Singh Rekhi and other promoters of R Systems to this effect, it said.
The Noida-based R Systems, founded in 1993 by Rekhi, is a leading provider of digital IT services, specialising in product engineering, and serves over 250 customers in technology, media, telecom, and financial services sectors globally.
R Systems employs over 4,400 people across 18 delivery centers in North America, Europe, Asia Pacific, and India. It reported revenue in the 12-months ending September at Rs 1,445 crore, a 36% year-on-year growth.
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