Xchanging unveils $144 million India M&A deal

The London-listed firm will acquire 75% of Indian outsourcing company Cambridge Solutions in a deal part-financed by Lloyds TSB.

London-listed Xchanging will acquire up to 75% of Cambridge Solutions, an India-headquartered business process outsourcing BPO firm and information technology services provider, at an estimated total consideration of around รบ83 million $144.5 million. The payment will be split into two parts Rs3.7 billion $77.2 million in cash and an issue of 15.2 million new Xchanging shares.

Xchanging has launched an open offer to acquire up to 20% of the free float of Cambridge Solutions at a price of Rs81.11...

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