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Tech Mahindra to acquire Born Group

Capital Market 

At an enterprise value of USD 95 million

The Board of Tech Mahindra has approved the proposal to acquire 100% stake in Born Group, directly and indirectly through its wholly owned subsidiary viz. Tech Mahindra (Singapore). The transaction is expected to close by 15 November 2019. The enterprise value is USD 95 million. USD 25 million will be paid out linked to achievement of financial targets for the financial year ending 31 December 2019.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, November 05 2019. 17:20 IST