EDS bid gets thumbs up from MphasiS

The MphasiS BFL board has welcomed the offer made by EDS to buy 52 per cent stake in the company. EDS said on Monday it was making an offer to acquire the controlling stake for $380 million.

According to an MphasiS statement, the board noted the contents of EDS' open offer and complimented the MphasiS management team on building such a world-class organisation as to attract the interest of the world's second-largest IT services company.

The board said it "will fully support whatever action the shareholders take with respect to this offer".

The MphasiS board acknowledged that partnership with a leader like EDS will enable MphasiS to broaden its offering to its customers and also provide enhanced prospects to its employees.

The board said it is looking forward to the management maintaining the company's tradition of the highest standards of customer service. and delivery.

Speaking on behalf of the management, MphasiS Chairman and CEO Jerry Rao said, "We are supportive of this transaction and look forward to its successful closure. We are excited about the opportunities for growth and the potential for enhancing our customer offering." He intends to live in India and look forward to continuing to run MphasiS, Rao added.