US-based IT firm Intelligroup would be acqu-ired by Japanese IT firm NTT Data Corp for $199 million (Rs 924 crore).
Intelligroup is an enterprise applications systems integrator headquartered in India in Hyderabad.
“NTT was looking for opportunities to expand its footprint outside Japan. They realised that Intelligroup fits the bill and saw value in the transaction,” Mr Vikram Gulati, the president and chief executive officer of Intelligroup, told this correspondent.
Mr Gulati has ruled out any jobs cuts at Intelligroup due to the takeover. Intelligroup has 1,500 employees working in India.
After the acquisition, Mr Gulati said the company would focus on expanding its operations both in India and the US.