UK-based back office services provider Xchanging Plc has agreed to acquire 75 per cent stake in IT services firm Cambridge Solutions for about 83 million pounds (Rs 686.84 crore). As part of the deal, Xchanging would pay Rs 371.2 crore in cash and issue 1.52 crore shares of the firm to Cambridge. These shares would account for seven per cent of Xchanging's current issued ordinary share capital, the firm said in a statement on Friday. According to sources, the UK firm would be paying about Rs 81 for each share of Cambridge. This would be a premium of 36.3 per cent over the company's closing price of Rs 59.40 on Friday on the Bombay Stock Exchange. […]