Tech Mahindra to acquire Czech design engineering firm Inter-Informatics

Tech Mahindra to acquire Czech design engineering firm Inter-Informatics
Photo Credit: Photo Credit: Reuters
23 Aug, 2018

Infotech firm Tech Mahindra is set to acquire 100% stake in Prague-based design engineering services firm Inter-Informatics for 5.4 million euros ($6.2 million or Rs 43 crore) in cash, it said in a stock exchange disclosure.

Tech Mahindra said the acquisition will bolster its presence in the cabin engineering space and provide a highly-skilled engineering team focused on the aerospace vertical.

The deal is expected to close by 15 September.

Inter-Informatics is a provider of design engineering services in the field of aerospace, rail transport and general machinery.

Its revenue stood at $10.7 million in the year through December 2017.

The company has a workforce of around 200 employees, with offices in the Czech Republic and Romania.

Recent deals by Tech Mahindra

In January, Tech Mahindra Ltd bought 17.5% stake in US-headquartered telecom software development firm Altiostar Networks Inc. for $15 million (Rs 95 crore).

In December 2017, Tech Mahindra bought an additional stake of 32.07% in Comviva Technologies Ltd - a mobile financial and value-added services provider - from the Bharti Group and private equity firm WestBridge Capital for Rs 361.8 crore.

After this, the company’s holding in Comviva increased to 99.17%.

In May 2017, Tech Mahindra acquired 84.7% stake in CJS Solutions Group LLC for an initial consideration of Rs 574.2 crore ($ 89.5 million), according to its annual report.

CJS Solutions specialises in providing information technology services to healthcare providers and implementing the software for electronic medical records.