Mphasis, (BSE:526299; NSE: MPHASIS), a leading Information Technology (IT) solutions provider specialising in cloud and cognitive services, today announced the appointment of Ajay Arya as Head of Mergers & Acquisitions (M&A). Ajay will be based in New York and lead the entire process, including strategy, evaluation, deal sourcing, negotiation, diligence management and post-merger integration.
"I am absolutely delighted that Ajay will be heading up our M&A department, as we continue to build out a world-class M&A practice. This appointment reinforces Mphasis' commitment to investing in top level talent and further accelerating the strong momentum in our inorganic business. Ajay's strategic thinking combined with his extensive transaction execution experience and proven leadership qualities, will be important assets in carrying out our strategic roadmap; making him a tremendous addition to the existing M&A team," said Nitin Rakesh, CEO and Managing Director, Mphasis.
"I am looking forward to the challenge of driving M&A forward in this momentous time of technological revolution. Bringing Mphasis' strength in technology with my experience in mergers and acquisitions, and financial engineering will help capture more value and in succeeding to deliver to our clients and to our financial objectives. I am excited to be working with the Mphasis leadership as well as the M&A team to accelerate our brand promise of 'Applying the Next," said Ajay Arya, Head of Mergers & Acquisitions, Mphasis.
Following his successful career over 20 years in Corporate Development, Strategy, and M&A across technology sectors, including Aerospace, Defense, Biotechnology, and Healthcare, Ajay's strategic vision and leadership were instrumental in driving growth and success in these areas. He has spearheaded numerous M&A transactions, most recently leading a transformative merger and financing for a major health intelligence company. Previously, he oversaw acquisitions, divestitures, ventures, and investments for a $35B+ publicly traded Aerospace & Defense firm, closing 30+ deals valued at nearly $40B since 2011. His notable transactions span healthcare technology, commercial aviation, and advanced defense sectors, including a $35B merger of equals.
The existing M&A organization will roll up into Ajay. Ajay holds a Bachelor of Arts (BA) in Accounting and Finance from The College of New Jersey. Before joining Mphasis, he gained extensive leadership experience across several reputable organizations. His career includes key leadership roles at prominent companies such as Carrier, GeneDX, and L3Harris Technologies.
Shares of MphasiS Limited was last trading in BSE at Rs. 3177.85 as compared to the previous close of Rs. 3126.60. The total number of shares traded during the day was 9128 in over 2258 trades.
The stock hit an intraday high of Rs. 3186.95 and intraday low of 3112.40. The net turnover during the day was Rs. 28825099.00. |
