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Tech Mahindra to acquire Czech-based firm Inter-Informatics for Rs 80 mn

Inter-Informatics had posted a revenue of $10.7 million in 2017. It has presence in Czech Republic and Romania

Press Trust of India  |  New Delhi 

Mahindra & Mahindra
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IT company on Wednesday said it will acquire Czech Republic-based engineering services firm for around Rs 80 million through a wholly-owned subsidiary.

"The committee of the board of directors of the company has approved the proposal to acquire 100 per cent shareholding on a fully diluted basis in spol.s.r.o.," said in a regulatory filing.

had posted a revenue of $10.7 million in 2017. It has presence in and Romania.

The to acquire the firm will be done by Tech Mahindra's subsidiary (Europe) Limited.

"The enterprise value of the deal is Euro 5.4 million (about Rs 80 million). The deal will bolster company's presence in the cabin engineering space and also provide a highly skilled engineering team focussed on the Aerospace vertical," the filing said.

The deal was signed on Wednesday and is expected to be closed by September 15, according to the filing.

First Published: Wed, August 22 2018. 16:38 IST