Competition watchdog CCI Thursday said it has approved the USD 3.4 billion acquisition of Syntel by French IT major Atos.
Both Atos and Syntel have significant presence in India. Syntel, which has 23,000 engineers in 30 countries, has over 18,000 staff based in India. Atos employs about 16,000 people in India.
In July this year, Atos had announced the acquisition of American IT firm Syntel in a bid to enhance its footprint, especially in the North American market and accelerate the digital transformation of its customers.
In a tweet, the Competition Commission of India (CCI) said it "approves acquisition of all outstanding shares of Syntel Inc. by Atos S.E."
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