CCI approves Carlyle's $3-B bid for IT Services firm Hexaware

The Competition Commission of India (CCI) US-headquartered Carlyle Group's bid to acquire fellow private equity firm Baring Private Equity Asia's (BPEA) stake in Mumbai-based IT Services firm Hexaware Technologies. The deal value is expected to be in the range of USD 3 billion. Hexaware provides automation, cloud and customer services-related technology to a wide range of industries including finance, education, hospitality and manufacturing. BPEA bought a controlling stake in Hexaware in 2013 for about USD 420 million and took the company private, via a de-listing process, late last year.