Private equity major Blackstone is in advanced level talks to acquire a "significant" stake in the domestic IT solutions provider firm CMS Computers, a media report said on Wednesday.
Quoting unnamed sources familiar with the development, private news channel reported that Blackstone was in advanced talks to pick up a significant stake in CMS Computers and a deal could be announced soon.
The report further quoted a Blackstone spokesperson as saying that he was "unable to comment at this time," while adding that there was no response from CMS Computers.
Independently, CMS or Blackstone officials could not be contacted for their comments.
The report said that exact deal structure was being worked out between the concerned parties.
According to its website, CMS Computers is a leading IT solutions provider in India with more than 8,000 professionals, over 20 branches, three R&D centres and three software development centers.
The company was founded by three former IBM engineers, R D Grover, V K Prasad and S Ramadorai, in 1976.