×
Home Companies Industry Politics Money Opinion LoungeMultimedia Science Education Sports TechnologyConsumerSpecialsMint on Sunday
×

Tech Mahindra set to buy stake in a European firm

Tech Mahindra set to buy stake in a European firm
Comment E-mail Print Share
First Published: Thu, Aug 28 2008. 03 42 PM IST
Updated: Thu, Aug 28 2008. 03 42 PM IST
Reuters
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.
Comment E-mail Print Share
First Published: Thu, Aug 28 2008. 03 42 PM IST
More Topics: Techmahindra | Servista | Stake | European | Shares |