New Delhi [India]January 12th (ANI): The Indian Competition Commission (CCI) has approved the proposed combination in connection with the acquisition of a 100 percent stake and joint control of Virtusa Corporation by Austin HoldCo, GIC Investor and CPPIB Investor.
The proposed combination relates to the acquisition of Virtusa Corporation by Baring Private Equity Asia (BPEA) by Austin HoldCo, Atago Investment Pte Ltd (GIC investor) and CPP Investment Board Private Holdings (4) Inc (CPPIB investor).
Austin HoldCo is a Delaware company based in the United States. It is not currently doing business. BPEA is an international private equity firm focused on private equity investments in Asia.
GIC Investor is 100% owned by Apstar Investment Pte Ltd, which in turn is 100% owned by GIC Ventures Pvt Ltd. is. GIC Investor is a special purpose vehicle instrument organized as a limited liability company in Singapore and part of a group of investment holding companies managed by GIC Special Investments Pvt Ltd.
CPPIB Investor is a Canadian company and a wholly owned subsidiary of the Canada Pension Plan Investment Board. It is an investment holding company and invests in a diversified portfolio of assets.
Virtusa is a global information technology services company. Through its subsidiaries, the company provides IT services including application outsourcing services, business and IT consulting services, technology implementation services, systems integration, digital engineering and cloud solutions in India. (ANI)