Blackstone to buy majority stake in Indian IT firm R Systems for $359 mn

US investment fund Blackstone has agreed to buy 52 percent stake in India-based R Systems International for $359 million.
VC funding for techBlackstone said it would pay 245 rupees per R Systems share, a premium of around 4 percent to the closing price on Wednesday.

“R Systems is well-positioned to benefit from digitalization tailwinds, shorter product launch cycles and increased openness to outsource product development,” Blackstone Senior Managing Director Mukesh Mehta said in a statement.

Blackstone said it would launch a conditional de-listing offer at 246 rupees per share and that it was seeking regulatory approval from the Indian market regulator.

Satinder Singh Rekhi, one of R Systems’ promoters selling their stake, will be a non-executive advisor to Blackstone.

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