Blackstone buys Rs 2,904-cr stake in R Systems Int’l

PTI

Mumbai, November 17

American private equity giant Blackstone on Thursday said it will pick up majority stake in digital services firm R Systems International for $359 million or Rs 2,904 crore.

Blackstone has signed definitive agreements with Satinder Singh Rekhi and other promoters of R Systems to this effect, it said.

The Noida-based R Systems, founded in 1993 by Rekhi, is a leading provider of digital IT services, specialising in product engineering, and serves over 250 customers in technology, media, telecom, and financial services sectors globally.

R Systems employs over 4,400 people across 18 delivery centers in North America, Europe, Asia Pacific, and India. It reported revenue in the 12-months ending September at Rs 1,445 crore, a 36% year-on-year growth.