Tech Mahindra announced that its wholly owned subsidiary, Tech Mahindra (Americas) Inc. has agreed to acquire 6.03% equity shares in VitalTech Holdings, Inc. for a cash consideration of USD 3 million.
The Company also has an option to invest an additional amount of upto USD 5 million to acquire additional equity upto 8% till January 2021.
VitalTech Holdings, Inc. headquartered in Plano, Texas.
It is engaged in the business of cloud-based Telehealth and remote patient monitoring platform development and services.
The acquisition will strengthen company's existing Healthcare IT services business and help company's healthcare customers in their digital transformation journey.
The tentative date of closure is 26 October 2020.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.