September 02nd, 2018

Tech Mahindra to buy Czech engineering services firm

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 spol.s.r.o. IT company Tech Mahindra said it will acquire Czech Republic based engineering services firm Inter-Informatics through a wholly-owned subsidiary.

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) Limited.

"The enterprise value of the deal is Euro 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. The deal was signed today and is expected to be closed by September 15, according to the filing.