BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Prabhudas Lilladher Report
Tech Mahindra Ltd. announced acquisition of 100% stake in Com Tec Co IT, digital engineering and transformation provider serving Insurance industry for €310 million (~$353.7 million) including €100 million earnouts payable over four years. CTC generated revenue of €71.3 million (~$81.36 million) in CY20 which amounts to 2% of Tech Mahindra’s FY21 revenue.
In nine months-CY21 it reported revenue of €69 million(~$78.7 million) - (quarterly run-rate of $26 million versus $20 million in CY20). About 60% of its revenue are from an anchor client.
CTC’s valuation of 4.3 times enterprise /sales is at upper end of similar transactions in this space. It is Tech Mahindra’s largest and among its most expensive acquisitions, compelling the company to drive cross-selling deals for scaling up in insurance space.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
As a Subscriber you get
Stories
RECOMMENDED FOR YOU
POPULAR