Blackstone forms new unit with CMS; appoints Former Actis partner Rajiv Kaul as head

Mumbai: The Blackstone Group today said that it would set up a new company with IT infrastructure management firm CMS Group, by carving out the IT infrastructure management and outsourced business services divisions of of CMS Computers.

The division to be carved out comprises card solutions, transaction printing and ATM cash management. Blackstone will own a majority stake in this new company and will have majority representation on the board.

CMS is a leading business and technology solutions provider with over 15,000 professionals worldwide across its various group companies. Its domestic IT services arm offers a wide range of solutions and services across various industry verticals in strategic IT consulting, networking, training, outsourcing, facility management, customising and implementing solutions, onsite service and support, and application management support.

Other businesses in the group include global software solutions unit Systime, CMS Traffic Systems, e-Governance, NVL (Media Broadcasting Equipment), DITL (Security Systems) & Kaycee Industries..

The promoters of CMS, primarily the Grover family, will hold a substantial minority stake in the new company.

The new company has signed up former Microsoft India CEO Rajiv Kaul as executive vice chairman and CEO. Kaul was, till recently, a partner with Actis Capital LLP based out of London heading the technology sector.