Business, Software

Blackstone To Sell Chinese IT Outsourcing Company For USD675 Million

Private equity company Blackstone Group has agreed to sell Pactera to a technology company under HNA Group for USD675 million.

Pactera is an information technology outsourcing company and it is one of Blackstone's largest assets in China.

This deal was reportedly reached in August 2016, but the final terms are still undergoing negotiation. This deal values Pactera at about USD930 million including debt.

Compared with the initial investment, Blackstone gained a return rate of over 1.5 times with this deal. In March 2014, a consortium led by Blackstone acquired Pactera for over USD600 million. Pactera was listed on Nasdaq at that time.

Pactera and its subsidiaries provide information technology outsourcing and consulting services to multinational companies and Chinese companies. In 2015, the company achieved operating revenue of USD777 million.

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