General Atlantic to invest in Indian tech services firm CitiusTech

NEW DELHI, March 20 Thu Mar 20, 2014 9:42am EDT

NEW DELHI, March 20 (Reuters) - India's CitiusTech said on Thursday U.S.-based buyout firm General Atlantic LLC has agreed to invest in the healthcare technology services and solutions provider to help it expand business globally.

While the company did not disclose the financial detail, a source with direct knowledge of the transaction told Reuters General Atlantic would buy a 26 percent stake in CitiusTech for about $120 million.

The partnership will enable CitiusTech to scale its business and leverage General Atlantic's global presence and expertise in the technology and healthcare marketplaces, Rizwan Koita, CEO of the company, said in the statement. (Reporting by Aditi Shah and Indulal PM in Mumbai; Editing by Sumeet Chatterjee)