June 2007
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HCL to jostle with PE duo for Cambridge

The final line-up of suitors for the $420-million acquisition of Cambridge Solutions—among the biggest in the Indian tech space—has HCL Technologies pitched against buyout private equity giants Carlyle and Permira. ET had first reported the names of Carlyle and HCL. But the entry of Primera, the largest European buyout fund, appears to be recent, say sources. If it retains interest, this could be Permira’s first India play. The company, which mopped up about $12 billion last year, has battled US buyout funds Blackstone and KKR in deals across the US and Europe. […]