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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.

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Published on February 01, 2020
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