Tech Mahindra announces acquisition plans to bolster digital offerings

The company has approved the acquisition of two wholly-owned subsidiaries - Infostar LLC by Tech Mahindra (Americas) Inc and WMW by Born London Limited, UK.

The company has approved the acquisition  of two of its wholly owned subsidiaries - Infostar LLC by Tech Mahindra (Americas) Inc,and WMW by Born London Limited, UK.

Tech Mahindra, part of the eminent Mahindra Group offers a bouquet of services which includes Telecom IT and Network Services, Consulting, Application Outsourcing, Infrastructure Outsourcing, Engineering Services, BPO, Platform Solutions and Mobile Value Added products and Services. 

Infostar LLC ( Loadstone) is headquartered in Pleasanton, California and engaged in IT Services. The acquisition will be a cash acquisition for an amount up to USD 105 million for 100 per cent controlling power. 

“The acquisition will bolster Tech Mahindra’s end-to-end digital product engineering capability across Design, Build, and Test, by employing Loadstone’s expertise in effective utilization of data strategy and providing end-to-end product quality assurance across hardware, software, and data layers”, the company said in its filing. 

We Make Websites Limited (WMW) ,Shopify Plus Partner, is a leading digital engineering quality assurance provider for new-age digital companies, headquartered in London, UK. 

We Make Websites will add to Tech Mahindra’s capabilities in the Experience Design pillar and help build an industry-leading Shopify Practice. The cash acquisition is for an amount of 9.4 million pounds for 100 per cent controlling interest. 

The shares of the company were trading at Rs 1531 with a gain of 0.89 per cent at the closing bell today.