HCL, Ingram Micro eyeing stake in Sonata Software: report

MUMBAI (BestGrowthStock) – India’s HCL group and Ingram Micro (IM.N: ), a U.S.-based multinational distributor of IT products, are in talks to buy a controlling stake in Bangalore-based Sonata Software (SOFT.BO: ), the Economic Times reported on Tuesday.

Due diligence by HCL is underway, the newspaper said citing three unidentified sources.

Sonata Software founders Rajan Raheja and S.B. Ghia, who hold about 44 percent in the company, want to sell their stake, the report said.

According to the report, the stake is valued at 2.84 billion rupees.

An email sent to Sonata did not elicit a response, the report said.

HCL, Ingram Micro eyeing stake in Sonata Software: report