Tech Mahindra is an Indian
Multinational provider of Information Technology, networking technology solutions,
and Business Support Services to the telecommunications Industry. It is a part
of Mahindra Group. In recent news, the company acquires US based network
solutions company Lightbridge Communications corporations for $240 Million.
This is the biggest deal of company
outside India, will significantly strengthen its presence in the US, and is
expected to add 20-30 more clients in the list. The deal will be finalized by
the end of this fiscal and is funding the acquisition via internal accruals.
Mahindra group looks to reach its stretch target of $5 Billion in revenue by
2015.
Headquartered in McLean, Virginia,
LCC is one of the world’s largest independent global providers of network engineering
services to the telecommunications industry, with more than 5000 employees in
over 50 countries. With annual revenue of more than $400 Million, LCC has built
350 networks and designed more than 350,000 cell sites for over 400 customers
worldwide. The acquisition positions Tech Mahindra as an important partner for
network services globally.
This is the largest acquisition so
far in this year in the IT services space. In July, India’s third largest
software services firm WIPRO had acquired the IT services division of Canadian
company Atco for US $195 Million. In September this year, Cognizant said it
will acquire US based Trizetto Corporation for US $2.7 Billion in an all cash
deal.
Rajendra Singh started LCC in 1983.
With its acquisition, Tech Mahindra will become the only Indian IT services
provider in the networking services management space, which is dominated by the
like of Alcatel Lucent and Ericsson. In April 2013, Tech Mahindra had acquired
the lab assets and operations of the Type Approval Lab, which was part of Sony
Mobile Communication’s internal test function.
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