Tech Mahindra To Acquire Czech-Based Engineering Services Firm
Tech Mahindra Ltd. said it will acquire Czech Republic-based engineering services firm Inter-Informatics for around Rs 8 crore through a wholly owned subsidiary.
“The investment committee of the board of directors of the company has approved the proposal to acquire 100 percent shareholding on a fully diluted basis in Inter-Informatics,” the software services provider said in a regulatory filing.
Inter-Informatics had posted a revenue of $10.7 million in 2017. It has presence in Czech Republic and Romania.
The investment to acquire the firm will be done by Tech Mahindra’s subsidiary Mahindra Engineering Services (Europe) Ltd.
“The enterprise value of the deal is €5.4 million. The deal will bolster company’s presence in the cabin engineering space and also provide a highly skilled engineering team focused on the aerospace vertical,” the filing said.