CCI okays Blackstone, other investors’ proposal to acquire stake in AI firm Neysa Networks

Fair trade regulator CCI on Wednesday approved a proposal of Blackstone-backed PE funds and other investors to acquire a stake in AI acceleration cloud provider Neysa Networks.

The development came after Neysa, in February this year, announced that private equity funds affiliated with Blackstone and co-investors have entered into definitive agreements to invest in the company, enabling a $1.2 billion capital raise.

The Competition Commission of India (CCI) said it has cleared the proposed deal.