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Tech Mahindra to acquire Dutch IT firm Dynacommerce for Rs 128 crore

While Tech Mahindra will pay Euro 4.39 million for the acquisition of shares in addition to some contingent payment spread over next five years

BS Reporter  |  Bengaluru 

Tech Mahindra

IT services major on Friday said it will acquire Netherland-based IT firm Holding BV for around Euro 15.9 million (around Rs 128 crore). The acquired entity provides software platforms and services to clients.

"Through this acquisition, will be able to enhance its capabilities in the customer experience layer. We expect the transaction to close in February 2019," said in an exchange filing.

While Tech Mahindra will pay Euro 4.39 million for the acquisition of shares in addition to some contingent payment spread over next five years, it will also settle the debt of the acquired firm worth $11.48 million as part of this deal.

First Published: Fri, February 01 2019. 20:26 IST
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