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Last Updated : Aug 01, 2011 03:21 PM IST | Source: CNBC-TV18

Mphasis paid 2-4.5 times sales for Wyde in cash: CEO

Speaking exclusively with CNBC-TV18, Ganesh Ayyar, CEO of MphasiS says that the company paid two-4.5 times its sales to acquire Wyde in an all-cash deal. Staunchly believing that the acquisition will be EBITDA accretive for Mphasis, Ayyar says that he hopes to close the deal in the next 30 days.

In a second-of-its-kind deal for the Bangalore-based software company, MphasiS entered into a pact to acquire Wyde Corp, a US-based software vendor. Being the creator of insurance policy administration solution, Wynsure, the acquisition will become MphasiS

First Published on Aug 1, 2011 11:10 am
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