Venture Tech and SAIF to Exit Intelligroup

Intelligroup (OTCBB: ITIG) has entered into an agreement to be acquired by NTT Data for $199 million. Intelligroup shareholders will receive $4.65 in cash per share, a 27.7% premium over the closing stock price last week. Venture Tech Assets Private and SAIF Partners currently own a combined 62.9% stake in the company and have accepted the tender offer. Intelligroup provides consulting, business optimization and outsourcing solutions.