Stocks

Acquisition may boost Tech Mahindra

| Updated on February 01, 2020 Published on February 01, 2020

 

Tech Mahindra on Friday said it will acquire 70 per cent stake in Bengaluru-based Cerium Systems at an enterprise value of up to ₹245 crore. The acquisition will boost Tech Mahindra’s engineering services practice in Very Large Scale Integration and embedded software, Tech Mahindra said in a notice to the exchanges. The remaining 30 per cent stake will be acquired over the next two years at a valuation linked to its financial performance, Tech Mahindra further said.

Published on February 01, 2020
  1. Comments will be moderated by The Hindu Business Line editorial team.
  2. Comments that are abusive, personal, incendiary or irrelevant cannot be published.
  3. Please write complete sentences. Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text. (example: u cannot substitute for you, d is not 'the', n is not 'and').
  4. We may remove hyperlinks within comments.
  5. Please use a genuine email ID and provide your name, to avoid rejection.