Indias Tech Mahindra Ltd has announced it has gained a 51 per cent stake of telecoms software company, Comviva Technologies Limited, as part of an attempt to strengthen its mobile software business
The new brand identity, Mahindra Comviva, which brings together the mobility business of Tech Mahindra and Mahindra Satyam, has business interests across dozens of African markets.
CP Gurnani, managing director of Tech Mahindra, said, “The world of mobility today encompasses wide range of solutions, where customers be it enterprise or consumers are driving their business and entertainment needs through mobility.”
This acquisition will provide access to a marquee client base, providing significant cross-selling opportunities. It combines two of Tech Mahindra’s stated strategies, namely investing in emerging areas such as Network, Mobility, Analytics, Cloud and Security and further focus on non-linear growth.
“This acquisition marks our strong intent and entry into the world of mobility products. We are adding significant capability in areas such as payments and VAS,” Gurnani added.
