 |
| CCI approves Proposed Combination in the acquisition of 100% equity interest and joint control in Virtusa Corporation by Austin HoldCo., GIC Investor and CPPIB Investor, Photo Credit-Mint. |
NEW DELHI (Lampe):- The Competition
Commission of India (CCI) approves the Proposed Combination relating to the
acquisition of 100% equity interest and joint control in Virtusa Corporation by
Austin HoldCo., GIC Investor, and CPPIB Investor.
The Proposed
Combination relates to the acquisition of 100% equity interest and joint
control in Virtusa Corporation (Virtusa) by Baring Private Equity Asia (BPEA)
(through Austin HoldCo.), Atago Investment Pte Ltd. (GIC Investor) and
CPP Investment Board Private Holdings (4) Inc. (CPPIB Investor).
Austin HoldCo is a
company incorporated in Delaware. It is presently not engaged in any business
activity. BPEA is an international private equity firm with a focus on private
equity investments in Asia.
GIC Investor is
wholly-owned by Apstar Investment Pte Ltd, which in turn is wholly-owned by GIC
(Ventures) Private Limited. GIC Investor is a special purpose vehicle organized
as a private limited company in Singapore that is part of a group of investment
holding companies managed by GIC Special Investments Private Limited.
CPPIB Investor is a
Canadian corporation and is a wholly-owned subsidiary of Canada Pension Plan
Investment Board. It is an investment holding company and invests in a
diversified portfolio of assets.
Virtusa is a global
information technology services company. Virtusa, through its subsidiaries, is
engaged in the provision of IT services, including application outsourcing
services, business and IT consulting services, technology implementation
services, systems integration, digital engineering, cloud solutions, etc., in
India.
0 Comments