Tech Mahindra to acquire German IT consultancy service provider- Beris

Image
Capital Market
Last Updated : Oct 01 2021 | 7:31 PM IST
Tech Mahindra through its wholly owned subsidiary viz., Tech Mahindra GmbH approved the proposal to acquire 100% equity shares in Beris consulting GmbH (Beris) for a cash consideration of EUR 7 million.

The company is headquartered in Wolfsburg Germany. The company has about 125+ employees. For the financial year ending 31 December, 2020, the company delivered revenues of EUR 10.1 million.

The acquisition will help Tech Mahindra unlock the transformational growth in the IT and application space for the automotive industry as a result of EV, Sharing & Mobility. Enable Tech Mahindra to expand its presence, local expertise and client relationships in the German market targeting the CX-Aftermarket business areas for IT applications digitization.

The transaction is expected to close by 08 October 2021.

Powered by Capital Market - Live News

Disclaimer: No Business Standard Journalist was involved in creation of this content

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Oct 01 2021 | 7:14 PM IST

Next Story