lett - Pack ard ▁announced ▁plans ▁to ▁sell ▁its ▁cont rolling ▁st akes ▁in ▁M phas is , ▁three ▁companies ▁Te ch ▁Mah ind ra , ▁Apol lo ▁Global ▁Management ▁and ▁Black stone ▁Group ▁entered ▁the ▁race ▁to ▁ac quire ▁M phas is . ▁Te ch ▁Mah ind ra ▁emer ged ▁as ▁the ▁fr on tr un ner ▁before ▁it ▁decided ▁to ▁pull ▁out ▁in ▁order ▁to ▁avoid ▁a ▁b idd ing ▁war ▁with ▁other ▁companies . ▁In ▁April ▁ 2 0 1 6 , ▁it ▁was ▁announced ▁that ▁Black stone ▁had ▁acquired ▁ 8 4 ▁percent ▁of ▁H ew lett - Pack ard ' s ▁st ake ▁in ▁M phas is ▁in ▁a ▁deal ▁worth ▁between ▁$ 8 2 5 ▁million ▁and ▁$ 1 . 1 ▁billion . ▁ ▁On ▁ 2 9 ▁Jan ▁ 2 0 1 7 , ▁N it in ▁R akes h ▁joined ▁M phas is ▁as ▁the ▁Chief ▁Executive ▁Officer ▁and ▁Director . ▁On ▁ 0 7 ▁Aug ▁ 2 0 1 8 ▁M phas is ▁Board ▁announced ▁buy back ▁offer ▁for ▁its ▁share hold ers ▁at ▁an ▁approximate ▁prem ium ▁of ▁ 1 7 . 4 %. ▁ ▁Services ▁ ▁M phas is ▁ ▁provides ▁information ▁technology ▁services ▁to ▁its ▁customers ▁around ▁the ▁world . ▁M phas is ▁provides ▁integrated ▁solutions ▁that ▁include ▁business ▁process ▁out s our cing , ▁infrastr ucture ▁technology , ▁and ▁application ▁services . ▁The ▁application ▁services ▁offered ▁by ▁the ▁company ▁includes ▁application ▁development ▁as ▁well ▁as ▁applications ▁maintenance ▁and ▁support ▁services