Mumbai, NFAPost: Tech Mahindra will acquire IT consultancy service provider Beris Consulting Gmbh for 7 million euros or about Rs 60 crore through its German subsidiary. Beris has over 125 employees and the company had revenues of 10.1 million euros for the financial year ended December 31, 2020.
The transaction is predicted to shut by October 8. The acquisition will help Tech Mahindra unlock the transformational growth in the IT and application space for the automotive industry as a result of EV, sharing and mobility.
It will enable Tech Mahindra to expand presence, local expertise and client relationships in the German market and expand local expertise and client relationships in the German market targeting the CX-Aftermarket business areas for IT applications digitization.
Shares of Tech Mahindra Limited was last trading in BSE at Rs. 1371.6 as compared to the previous close of Rs. 1380.95. The total number of shares traded during the day was 244615 in over 10226 trades.
