Tech Mahindra acquires Sweden-based lab - Business Today

Home /BIZ WRAP /Deal Watch /Story BT Online Bureau    Hyderabad   Last Updated: April 25, 2013  | 08:24 IST With an aim to strengthen its lab presence in Europe, Middle East and Africa (EMEA) regions, Tech Mahindra has acquired a Sweden-based Type Approval Lab for an undisclosed amount. The lab was part of Sony Mobile Communication's internal test function and now will help Tech Mahindra establish its first European test lab with multi-million dollar infrastructure, Tech Mahindra said in a release on Wednesday. This acquisition will prove to be a key milestone for the European expansion plan and reinforces further company's commitment to be a key player in this space, the release said. This is the third acquisition the IT firm has made in the last eight months. The company acquired 100 per cent stake in telecom BPO player Hutchison Global Services for $87 million (about Rs 470 crore) in the first week of September 2012. Three weeks later, the company said that it had picked up 51 per cent stake in Bharti Enterprises' promoted Comviva Technologies. "The Lund facility will now provide us a strategic Lab presence for EMEA region and for our customers looking to launch their products in EU and rest of the world," the Chief Technical Officer of CanvasM Technology, a wholly-owned subsidiary of Tech Mahindra, Sirisha Voruganti said. "We look forward to the exciting test engineering competencies and consulting abilities the lab resources will bring to Tech Mahindra's customers," Voruganti said. This acquisition is in line with Tech Mahindra's plans to lead the test space and the increased focus on Nordics region, it said. The company along with CanvasM Technology has labs in India and the US certifying more than 800 plus devices, Tech Mahindra said. With PTI inputs Groupon India ties up with Croma chain Reliance Globalcom nearing deal to be sold South African Airways ties up with Jet Chit fund scam: WB offers Rs 500 cr relief Jet-Etihad deal may bring down air fares Axis Bank net profit up 22% in March quarter via Business - Google News http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNFUVn_HkTOtcP4LN1Mg1l_X-xpsFQ&url=http://businesstoday.intoday.in/story/tech-mahindra-acquires-sweden-based-lab/1/194396.html

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