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.
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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