PLANO, Texas (AFX) - Electronic Data Systems, an information-technology and business-process outsourcing company, said Wednesday it closed the purchase of a majority stake in MphasiS BFL Ltd., an Indian outsourcing company, for about $380 million in cash.
EDS said it bought 83 million shares of the Bangalore company, or approximately 52 percent. The acquisition will bring EDS's India work force to more than 20,000 people by the end of 2006.
EDS's shares closed up 25 cents, at $24.20, on the New York Stock Exchange.
Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.