Tech Mahindra, Digital China in race to acquire HNA’s technology unit

HNA Group Co.’s sale of its technology outsourcing arm has attracted interest from suitors including Digital China Group Co. and Tech Mahindra Ltd., people familiar with the matter said. Buyout firm Advent International and some Chinese investment funds have also been weighing offers for HNA’s Pactera Technology International Ltd. unit, according to the people. The embattled Chinese conglomerate has asked for second-round bids within the next few weeks, the people said, asking not to be identified because the information is private.

Some investment funds could decide to join forces with a strategic bidder to make a joint offer, the people said. No final decisions have been made, and there’s no certainty the parties will decide to submit formal bids, the people said.