Tech Mahindra Limited to acquire 100% in Thirdware Solutions Ltd

Tech Mahindra Limited has approved the proposal to acquire 100% equity shares in Thirdware Solutions Limited (hereinafter referred to as Thirdware or Target).

Headquartered in Mumbai with more than 850 employees. For the financial year ending 31st March, 2021, Thirdware had revenue of INR 2,106.2 million. Thirdware delivers industryspecific technological expertise through a range of services spanning business applications consulting, design, implementation and support.

The acquisition will bolster Tech Mahindra's digital solutions and services in automotive consulting, design, development, and implementation in areas like ERP (Enterprise Resource Planning), EPM (Enterprise Performance Management), RPA (Robotic Process Automation), and IIoT (Industrial Internet of Things). Thirdware's capability to provide end-to-end implementations and global rollouts of ERP solutions will give Tech Mahindra an edge in the manufacturing space.

Shares of Tech Mahindra Limited was last trading in BSE at Rs. 1486.95 as compared to the previous close of Rs. 1485.00. The total number of shares traded during the day was 46287 in over 2124 trades.

The stock hit an intraday high of Rs. 1491.75 and intraday low of 1472.20. The net turnover during the day was Rs. 68739652.00.

Source : Equity Bulls

Keywords

TechMahindra INE669C01036 Acquisition ThirdwareSolutions