The Competition Commission of India (CCI) has approved a Blackstone-led consortium’s proposal to acquire a controlling stake in Neysa Networks Pvt Ltd, paving the way for a major private equity entry into India’s fast-growing artificial intelligence (AI) cloud services space.
In an order issued on Wednesday, the antitrust regulator cleared the acquisition of certain shareholding in Neysa by affiliates of Blackstone Inc., BCP Asia II Topco V Pte. Ltd. and Asia II Topco XIV Pte. Ltd., along with a group of domestic and global investors. The approval removes a key regulatory hurdle for the transaction.
Financial details of the transaction were not disclosed.
Under the proposed combination, Blackstone, acting as the lead investor, will take a controlling interest in Neysa Networks Private Limited. The investment round also includes participation from 360 ONE Private Equity Fund, TVS Shriram Growth Fund 4, Nexus Ventures VII Holdings, Anchorage Capital Scheme III, Neysa founder and CEO Sharad Sanghi, and a co-investor entity linked to the Ontario Teachers’ Pension Plan Board.
Neysa operates as an AI-focused cloud services provider, offering infrastructure and platforms that help enterprises, startups and public sector organisations deploy and scale AI workloads in a secure and cost-efficient manner. The company positions itself at the intersection of cloud, data centres and AI compute, segments that have seen rising investor interest amid accelerating adoption of generative AI and data-intensive applications.
For Blackstone, the transaction adds to its expanding technology and digital infrastructure portfolio in Asia, where it has been actively backing data centres, cloud and technology-enabled services.
The CCI noted that the combination does not raise competition concerns in the relevant markets, allowing the deal to proceed. |
