Tech Mahindra to amass German IT consultancy service provider- Beris
Tech Mahindra, through its wholly owned subsidiary, Tech Mahindra GmbH, has approved the proposal to acquire 100% of the shares in Beris consulting GmbH (Beris) for a cash amount of EUR 7 million.
The company is headquartered in Wolfsburg, Germany. The company has over 125 employees.
For the fiscal year ending December 31, 2020, the company achieved sales of 10.1 million euros.
The acquisition will help Tech Mahindra unlock transformative growth in IT and applications for the automotive industry through EV, Sharing & Mobility. Enable Tech Mahindra to expand its presence, local expertise and customer relationships in the German market, targeting the CX aftermarket businesses for the digitization of IT applications.
The transaction is expected to be completed by October 8, 2021.
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(This story was not edited by Business Standard staff and is automatically generated from a syndicated feed.)
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