NTT DATA, -owned subsidiary by, Mobius Subsidiary Corporation, will make an offer to purchase all outstanding shares of Intelligroup common stock for US$4.65 per share, which represents a 21.1% premium to Intelligroup's average closing stock price over the last three-month period. The tender offer is scheduled to commence within 6 business days and will expire after 20 business days unless the offer is extended. The tender offer is conditioned on the tender of more than a majority of Intelligroup's outstanding shares on a fully-diluted basis, and various other conditions, including customary regulatory approvals. The transaction is not conditioned on financing.

The transaction was unanimously approved by the Boards of Directors of both Intelligroup and NTT DATA, and the Board of Directors of Intelligroup  will recommend that Intelligroup's stockholders tender their shares in the offer. In connection with the offer, SB Asia Infrastructure Fund, LP and Venture Tech Assets Private Ltd, which collectively hold approximately 62.9% of Intelligroup's outstanding common stock, have agreed to tender their shares into the offer.

The transaction would give NTT DATA access to Intelli group's blue-chip client base and specialized knowledge of SAP and Oracle. NTT DATA would also benefit from Intelligroup's deep industry experience and solutions focused on the life sciences, high-tech and discrete manufacturing, and consumer packaged goods verticals and its efficient global delivery model, enabled by world-class delivery centers in India. Furthermore, the transaction would result in better service for Intelligroup's and NTT DATA's global client bases, through coordination and cooperation with NTT DATA global affiliates.

Commenting on the transaction, Toru Yamashita, President & CEO of NTT DATA, said, "We are extremely pleased to announce our alliance with Intelligroup, a company highly reputable in the ERP business, with top-class employees around the globe. We believe that through this alliance, we will gain access to Intelligroup's global operation network, which will allow us to provide higher quality services in more places and assist clients in the further innovation of their businesses."