Genpact will buy Fairfax, Virginia-based IT services provider, Headstrong, for $550 million, The Wall Street Journal reports. The Indian business process and technology management company plans to fund the purchase with a combination of existing cash and debt.

The transaction is expected to be completed by the end of next month. Citigroup Global Markets and UBS Securities were appointed as financial advisers by Genpact, while Morgan Stanley advised Headstrong on the deal.

Click here for the story from The Wall Street Journal.

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