Bangalore-based operations and business support systems provider Subex is mulling sale of 60% stake to a strategic investor. Global management consulting and technology services firm Accenture is learnt to be the frontrunner for buying the stake in a deal that could be in the range of R500-600 crore.
Though both the firms denied any such development, people privy to the matter told FE that Subex is in fact in talks with various players in the industry including the Indian arm of Accenture for the stake sale. If the deal materialises, it would be fifth such deal in the technology segment in India in 2011.
“We are always looking at something as a tuck-in but there is nothing at this point of time. We are not considering this (buying Subex stake),” Avinash Vashistha, country managing director and co-chairman for India at Accenture, told FE.
Source: Indian Express