Bangalore, June 07: Digital GlobalSoft Limited today said it has signed a definitive agreement with HP, its parent company and majority shareholder, to combine with HP Services' India Software Organization (HPS ISO), and establish a significant services company with HP as a key investor, customer and supporter. Announcing this in a statement here, Digital said the initiative would create a renewed and dynamic digital that "is uniquely placed and advantageously positioned" within the IT sector in India.
It strengthens the company's operating model and makes Digital a consolidated focal point for HP services global delivery capabilities in India, providing significant growth opportunities to the company, it said.
Digital would closely align itself to its parent's global strategy and operations to maximize opportunities for the growth of its business and become a preferred vendor for HP services, the statement said.
Following this initiative, HP's equity stake in Digital will initially increase to 73.2 per cent from the current 50.6 per cent and subsequently to 76.2 per cent by conversion of preference shares. Bureau Report