EDS, now a Hewlett Packard company, is leading the race to acquire Fidelity’s IT captive BPO in India in a transaction worth roughly $150 million. According to a report published in the Economic Times, the deal is expected to close in 3-4 weeks.

EDS is also likely to get a long-term outsourcing contract worth over $500 million from Fidelity as part of the deal.

If the transaction were to come through, it is expected that Fidelity will consolidate its outsourced work with HP-EDS. As a result, domestic giant Infosys may suffer a setback since presently Fidelity is one of the top 10 client for Infosys, with over 3,000 employees working on $50 million per annum account.

Fidelity BPO employs 2,000 people across Bangalore and Chennai centres, and supports Fidelity’s operations in the US.

Other companies that feature in the in the final shortlist for the captive that included HP-EDS are Accenture and probably IBM.