Tech Mahindra acquires minority stake in Servista

Mahindra group company Tech Mahindra (TechM) today said it has acquired a minority equity stake in European systems integrator, Servista for an undisclosed amount.     

As a part of the agreement, TechM would be Servista's exclusive delivery arm for three years and would also assist the company in securing more large-scale European IT offshoring business.     

TechM would have the right to nominate a member onto Servista's Board of Directors, a release issued here stated.     

"This deal will drive Tech Mahindra's expansion into the European market place and will significantly enhance TechM's business development capability," the release said.     

The Mahindra group company would also support Servista in delivering managed IT services and provide it with cost-efficient and highly-scaleable world-class solutions for their clients.     

Tech Mahindra's President International Operations C P Gurnani, said, "Tech Mahindra's strategy of pursuing long-term customer relationships has always yielded definitive results. Enhancing our partnership with Servista is another important milestone in this journey — and will expand our service delivery footprint in Europe."