Tech Mahindra acquires European tech firm for EUR 310 million

IT organization Tech Mahindra on Monday declared obtaining of 100% stake in Europe-based Com detective Co IT (CTC) and 25 percent stake in two IT stages for a sum of EUR 330 million (about Rs 2,800 crore).

The organization said the acquisitions will reinforce its computerized designing and protection innovation organizations. The procurement of CTC is the second-biggest securing that the organization has made after trick hit Satyam in April 2010.

Tech Mahindra said that it has gained Com Tec Co IT (CTC) for 310 million euros (around Rs 2,628 crore), including earnouts and collaboration connected payouts. Tech Mahindra is additionally putting one more 20 million euros in gaining 25% proprietorship in SWFT and Surance stage which are important for a similar establishing bunch as CTC.

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