Tech Mahindra Ltd arm to acquire Eventus Solutions Group, LLC

Tech Mahindra Ltd through its wholly owned subsidiary viz., Tech Mahindra (Americas) Inc. approved the proposal to acquire 100% equity shares in Eventus Solutions Group, LLC, ("Eventus").

Eventus Solutions Group offers end-to-end customer engagement solutions, such as strategy consulting, cloud based tools and automation services, and managed services. The entity was incorporated in 2009.

Tech Mahindra will pay total consideration of up to USD 44 million including earnouts for the acquisition.

The acquisition will bolster consulting capabilities in Customer experience (CX) and customer management space and will enable Tech Mahindra to build an industry leading consulting practice and move up the value chain in the BPS business.

Shares of TECH MAHINDRA LTD. was last trading in BSE at Rs.963.15 as compared to the previous close of Rs. 950.4. The total number of shares traded during the day was 165614 in over 7230 trades.

The stock hit an intraday high of Rs. 969.8 and intraday low of 936.85. The net turnover during the day was Rs. 157407597.

Source : Equity Bulls

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