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Tech Mahindra Unit to Acquire Brazil IT Services Firm; Shares Up 3%

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Tech Mahindra (NSE:TECHM, BOM:532755) said its wholly-owned subsidiary, Tech Mahindra Servicos De Informatica, signed and executed a quota purchase agreement with Orange Business Services Brasil to acquire Alyis Serviços Técnicos LTDA for 1.2 million Brazilian real.

The deal is part of a collaboration signed between Tech Mahindra and Orange Business to outsource certain global operations, including customer support, post-sale support and quote to bill, according to an Indian bourse filing on Wednesday.

Upon deal completion, Alyis Serviços Técnicos will become a wholly-owned unit of Tech Mahindra Servicos De Informatica and a step-down subsidiary of Tech Mahindra.

Tech Mahindra shares rose nearly 3% in recent trade.

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