Syntel Enters Into A Definitive Agreement In An Proposed Acquisition Deal By Atos

Syntel, Inc., the world leader in integrated information and knowledge of process technology, today announced that it is integrating into the final merger agreement with Atos SE. The deal includes Atos acquiring all shares and has closed the circulation of Syntel for $41.00 due to participation in the transaction in the amount of about $3.4 Billion, including net debt of Syntel. The deal was unanimously approved by Syntel’s Board of Directors on the basis of the unanimous recommendation of the special committee of the Board of Directors.

Bharat Desai, co-chairman of Syntel, said, “This is a very appealing event for Syntel.” Syntel’s management seeks to maximize shareholder value and believes that an agreement with Atos achieves this goal and gives a lucrative offer for our employees and customers.

Thierry Breton, CEO of Atos said, “I am excited to announce this vital milestone in the development of Atos leadership with the planned acquisition of a leading digital company, Syntel, founded 38 Years ago which copes entirely into our actions, including priority for our Business & Platform Solutions segment. This will considerably boost our growth profile and profitability due to the wide range of modern digital service platforms in India, as well as the synergy of costs and revenues.

The completion of this transaction is subject to approval by Syntel shareholders’ regulatory bodies and other normal conditions. The completion of this transaction is not subject to any financing condition. As part of the merger agreement, the founders of Syntel and a number of its affiliates who can together hold about 51.07% of Syntel shares have signed with Atos a vote in favor of the merger agreement, that are subject to right to terminate their compulsion in the case of Syntel’s board of directors, change the proposal to shareholders or if there is termination of final agreement. The parties plan to close the deal in the second half of 2018.

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