M&A

M&A

Tech Mahindra acquires US firm Infostar, UK firm WMW for $116-M

BSE Disclosure  

Pune-based, publicly listed Tech Mahindra Ltd, through its wholly owned subsidiary Tech Mahindra (Americas) Inc, has acquired 100% shareholding in Pleasanton (CA), USA-based Infostar LLC for USD 105 million. It has also acquired 100% shareholding in London-based WMW through Born London Ltd, UK, a wholly owned step down subsidiary, for EUR 9.4 million (USD 10.9 million) Infostar is a digital engineering quality assurance provider for new age digital companies, with over 300 employees. For the fiscal ended December 31, 2020, it had revenue of USD 43.3 million. We Make Websites (WMW) is focused on website building, migration services on the Shopify Plus platform. For CY 2020 it had reported revenues of EUR 4.6 million.