Tech Mahindra set to buy stake in a European firm

Mumbai: Tech Mahindra Ltd said that it would acquire a minority stake in European systems integrator, Servista for an undisclosed sum and would be the latter’s delivery arm for three years.

According to the deal, Tech Mahindra would also assist Servista in securing more large scale technology offshoring business in Europe, the Indian firm said in a statement, adding that it will also nominate a member on Servista’s board.

Servista’s local presence in Europe would be beneficial for an Indian firm such as Tech Mahindra, it added. “Servista’s expertise include services in customer relationship management and billing," Tech Mahindra said.

Shares in Tech Mahindra were trading 2.72% down at Rs755.95 in a weak Mumbai market.

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