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    QONEQT in News

    17-Nov-2022 01:18 PM


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    Blackstone To Buy Majority Stake In Tech Firm R Systems For $359 Million

    Blackstone to take majority stake in India's R Systems US investment fund Blackstone Inc said on Thursday it would buy a 52 per cent stake in India's R Systems International from the IT services company's promoters for $359 million.
    Blackstone said it would pay Rs 245 per R Systems share, a premium of around 4 per cent 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.
    R Systems' shares had shed a quarter of their value so far this year until Wednesday, after surging about 168 per cent last year.
    Source: NDTV
    #Blackstone