On August 29th, 2011, MphasiS’, a leading Indian IT services company, closed the acquisition of 100% of the equity of Wyde Corporation (a Franco-American software company specialised in the insurance industry) with the support of Crédit Agricole CIB acting as its financial adviser.

This acquisition is in line with MphasiS’ strategy to concentrate on a few chosen verticals. This will further accelerate MphasiS’ value proposition to customers, leveraging Wyde’s Wynsure platform. The deal brings with it new partnerships and strategic accounts in the insurance vertical and will complement its existing strengths in terms of skill-sets and customer base. This investment is the second acquisition by MphasiS’ in the insurance industry vertical.

Crédit Agricole CIB has been mandated to support MphasiS’ for this strategic acquisition, one of the largest ever technology acquisition in Europe by an Indian company. An international team comprising of Coverage & Investment bankers and sectoral specialists of the Telecoms, Media and Technology (TMT) group from India, Paris, Hong Kong and New York, were mobilised for this transaction.

Present in India since 1981, Crédit Agricole CIB is one of the leading international banks in the country. The Bank offers a wide range of products and services tailored to the needs of the Indian corporates and financial institutions. It is active in supporting its clients across all product lines including mergers and acquisitions.