Others said to be in the race include L&T Infotech and Tech Mahindra, Reuters reported, citing sources familiar with the situation.
Hewlett Packard currently holds a 60.5 per cent stake in MphasiS, and bids are likely to be submitted in June, with a deal completed by September.
MphasiS delivers applications, infrastructure services and business process outsourcing services.
“This is mainly going to be a competition among the private equity firms with some mid-sized companies expected to jump into the fray in the final stages,” one of the sources said in the report. “The buyer will have to focus a lot on sales and marketing in the first few years to grow the non-HP business,” which is why a private equity firm may team up with an IT services company, he said.
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