Avendus Capital Acts as an Advisor on the Sale of IT Business of Blue Star Infotech Limited to Infogain Inc., a ChrysCapital Portfolio Company.

Blue Star Infotech Limited (BSIL), a digital transformation consulting and services company, part of the Blue Star Group, has entered into an agreement to sell its IT Business to Infogain Inc., a ChrysCapital portfolio company for Rs.180.80 Crores. The sale transaction is subject to the approval of shareholders of BSIL.

Avendus Capital was the sole financial advisor for this transaction.

Deal Value

INR 180.8 cr

Service

Mergers & Acquisitions

Sector

Enterprise Technology & Services

Date

October 2015

This proposed transaction will align BSIL’s Information Technology business with a larger peer thereby strengthening its position in the industry. This would enhance our current service to our customers as well as create growth opportunities for our employees.

Suneel M. Advani

Chairman and Managing Director, BSIL

BSIL’s IT assets are an ideal fit for Infogain with the vision of creating a leading new age digital services platform with combined capabilities in Cloud, Mobility, SAP, Analytics and Product Engineering. We expect the combined company to grow to half a billion dollars, through organic and inorganic growth, within the next five years.

Sanjay Kukreja

Managing Director at ChrysCapita

Blue Star Infotech has achieved outstanding success over recent years and I look forward to working with its high performance leadership and team to deliver even greater value to clients. I am extremely excited to welcome them to the growing Infogain team.

Kapil Nanda

President and Chief Executive Officer of Infogain

The IT industry is evolving as never before, and we are excited by the opportunity to offer our clients and employees increased scale of operations as well as broader capabilities including next generation technologies.

Sunil Bhatia

Chief Executive Officer and Managing Director of BSIL

The deal brings together two best in class IT Services companies and will help create a new generation leader in IT. Our firm is privileged to be part of this value creation journey.

Kaushal Aggarwal

Co-founder, Avendus

About Blue Star Infotech Ltd | Infogain Inc | ChrysCapital |

Blue Star Infotech Limited a digital transformation consulting and services company, combines the best of engineering, creativity and technology to deliver the next generation of software solutions to its global customers and enable them to be future-ready. Part of the well-known Blue Star Group, Blue Star Infotech is a listed company with its global headquarters in Mumbai, India, and with operations in USA, UK, Europe, Malaysia, and Singapore. The Company is focused on delivering value-added and future-proofed software solutions by leveraging emerging technologies and trends while preserving existing investments for gaining competitive advantages.

Infogain provides front-end, customer-facing technologies, processes and applications that lead to a more efficient and streamlined customer experience for enterprises in the USA, Europe, the Middle East, Asia Pacific and India. Offering solutions for the high-tech, retail and insurance verticals, Infogain specializes in areas such as software product engineering, digital service automation and mobility.

ChrysCapital is a private equity firm that was started in 1999 and currently manages US $2.5B across six funds. The firm has deployed over US $2B across 70+ investments and has had 50+ successful exits. The firm's investors include global endowments, sovereign funds, family offices, foundations and fund of funds.