Mphasis is an IT services company based in Bangalore, India. The company provides infrastructure technology and applications outsourcing services, as well as architecture guidance, application development and integration, and application management services. It serves financial services, telecom, logistics, and technology industries. Mphasis is ranked #7 in India IT companies and overall #165 by Fortune India 500 in 2011. In February 2014, Mphasis changed its logo and the brand name as Mphasis Unleash the Next, seeking to boost business other than from parent Hewlett-Packard, its largest client. In April 2016, Hewlett Packard Enterprise sold majority of its stake in Mphasis to Blackstone Group LP for around a billion dollars. Mphasis was formed in June 2000 after the merger of the US-based IT consulting company Mphasis Corporation (founded in 1998 in Santa Monica by Jerry Rao and Jeroen Tas.) and the Indian IT services company BFL Software Limited (founded in 1992). In June 2006 Electronic Data Systems (EDS) purchased a controlling stake in the company (42%) for $80 million and operated the company as an independent EDS unit. On 13 May 2008, Hewlett-Packard confirmed that it had reached a deal with Electronic Data Systems to acquire the company for $13.9 billion. The deal was completed on 26 August 2008.