Mphasis is eyeing double-digit revenue contribution from companies in the portfolio of Blackstone, American private equity firm that owns a majority stake in the software services firm, up from around 5% at present, said its chief executive Nitin Rakesh.
Historically, the IT and business process management companies backed by Blackstone have benefited through a steady flow of revenue from other clients backed by the PE firm. IT services deals from Blackstone-backed businesses offer good pricing too.
“It is a win-win situation. Blackstone, from their point of view, ensure that the portfolio companies are paying the right amount of money,” said Sanchit Vir Gogia, chief executive, Greyhound Research.
Analyst:
Sanchit Vir Gogia: Sanchit is the Chief Analyst, Founder & CEO of Greyhound Research, a Global, Award-Winning, Technology & Innovation Research & Advisory firm. To read more about him, click here.
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