Tech Mahindra signs deal for acquisition of Inter-Informatics spol. s.r.o.

Tech Mahindra announced that the Investment Committee of the Board of Directors of the Company has approved the proposal to acquire 100% shareholding on a fully diluted basis in Inter-Informatics spol. s.r.o., an entity based in the Czech Republic through its Wholly Owned Subsidiary i.e. Mahindra Engineering Services (Europe) for a cash consideration of EUR 5.4 million.

The deal was signed on 22 August, 2018 and the acquisition is expected to be completed by 15 September, 2018.

The acquired entity is a leading provider of Aerospace Design Engineering Services. The company is headquartered out of Prague, Czech Republic. There are around 200 employees with majority based out of Czech Republic with a small presence in Romania. The company had revenues of US$10.7 million in CY17 and US$11.3 million in CY16. The three primary lines of business are - Aerospace, Machinery and Rail.

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