Syntel To Be Acquired By Atos For $41 Per Share

(RTTNews) - Syntel Inc. (SYNT), Sunday said it agreed to be acquired by with Atos S.E. for $41.00 per share in an all-cash transaction valued at about $3.57 billion, including debt.

The transaction was unanimously approved by the full Board of Directors of Syntel based on the unanimous recommendation of a Special Committee of the Board.

Bharat Desai, co-chairman of Syntel said: "This is a very exciting development for Syntel. The Syntel board is committed to maximizing shareholder value and believes that the agreement with Atos achieves that objective and delivers a win-win proposition to our customers and employees."

Completion of this transaction is subject to regulatory approvals, approval of Syntel's shareholders and other customary closing conditions. The parties expect to close the transaction during the second half of 2018.

For the second quarter, Syntel expects to report revenue of $249.7 million and earnings per diluted share of $0.49.