Nomura Holdings Inc, the biggest securities firm in Japan, has made a basic agreement to buy out the failed US investment bank Lehman Brothers Holdings Inc's units in India. This report was published by the Nikkei business daily of Japan. It also said that the Japanese security house is going to take over the Lehman Brothers' information technology development and back-office operations in India that employs over 2,000 people.

It is reported that the Nomura Holdings Inc has already taken into its fold some 3,000 workers from the Asia-Pacific units of Lehman Brothers and around 2,500 employees from Europe and the Middle-East ones. The Indian operations of Lehman Brothers comprise tasks such as procedural work entailed by securities transactions besides IT development.