New Delhi: IT company on Monday announced the acquisition of 100% stake in Europe-based Com tec Co IT (CTC) and 25% stake in two IT platforms for a total of €330 million (about Rs 2,800 crore).
The company said the acquisitions will strengthen its digital engineering and insurance technology businesses. The acquisition of CTC is the second-largest acquisition that the company has made after scam-hit Satyam in April 2010.
Tech Mahindra said that it has acquired Com Tec Co IT (CTC) for €310 million (around Rs 2,628 crore), including earnouts and synergy linked payouts.
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Tech Mahindra is also investing another €20 million in acquiring 25% ownership in SWFT and Surance platform– which are part of the same founding group as CTC.
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