Mumbai:

The board of directors of Mphasis BFL also approved the share entitlement ratio of five equity shares in the company of Rs10 each against four equity shares of Rs10 each of EDS-India, subject to regulatory and other approvals.

According to the proposed scheme of amalgamation, on approval, the merger will take effect from the appointed date, which is April 1, 2006. All assets, liabilities and obligations of EDS India as per the scheme of amalgamation will vest in MphasiS BFL with effect from that date.

EDS had earlier acquired a majority stake in Mphasis BFL in a $380 million cash deal.

MphasiS BFL provides information technology and business process outsourcing services to around 2,000 companies around the globe. The company also assists its clients in innovating and streamlining business processes by offering custom solutions for technology and operations outsourcing.

The company offers solutions in financial services, logistics and technology verticals, spanning across architecture, application development and integration, application management and business process outsourcing, including the operation of large-scale customer contact centers.

MphasiS BFL specialises in multi-channel solutions, which optimise sales and service processes from a cost and quality perspective.

Besides an onsite presence at key locations, the Company has an extensive offshore infrastructure for IT development and business process outsourcing with centers in India, China and Mexico. MphasiS BFL has a strong quality culture, reflected in ISO 9000 and BS 7799 certifications, CMMi Level 5 rating and Six Sigma quality initiatives. The company currently employs over 12,000 professionals.

Led by Jerry (Jaithirth) Rao (chairman and CEO) and Jeroen Tas (vice chairman), both former Citibank executives, the MphasiS BFL management team has a unique blend of domain & technology leadership.

EDS-Electronic Data Systems (India), a 100 per cent subsidiary of EDS Corporation, was the first company in India to sign a multiyear outsourcing contract.

EDS opened its customer interaction center in Mumbai in April 2003 and the Pune office in August 2004. With facilities at DBS Westminster, Steeple Reach and Tidel Park in Chennai, and in Gurgaon, Haryana, EDS delivers a broad portfolio of information technology and business process outsourcing services to clients in the manufacturing, financial services, healthcare, communications, energy, transportation, and consumer and retail industries and to governments around the world.