The acquisition will add USD 45 million to the revenue, Ravi Vasantraj, Global Head — BFSI, Tech Mahindra told CNBC-TV18.
Tech Mahindra has signed agreement to acquire Switzerland-based niche consulting and services company SOFGEN Holdings in an all-cash deal.
The acquisition will add USD 45 million to the revenue, Ravi Vasantraj, Global Head — BFSI, Tech Mahindra told CNBC-TV18. SOFGEN has a worldwide presence specializing in private, commercial and retail banking and has around 20 Tier-I clients across geographies. The firm has over 450 employees.
Tech Mahindra expects to close the transaction by March 2015.
Tech Mahindra stock price
On January 09, 2015, at 14:21 hrs Tech Mahindra was quoting at Rs 2651.50, up Rs 84.50, or 3.29 percent. The 52-week high of the share was Rs 2719.00 and the 52-week low was Rs 1677.65.
The company’s trailing 12-month (TTM) EPS was at Rs 106.86 per share as per the quarter ended September 2014. The stock’s price-to-earnings (P/E) ratio was 24.81. The latest book value of the company is Rs 358.16 per share. At current value, the price-to-book value of the company is 7.40.