 "Tech Mahindra")
To bolster its digital engineering capabilities, expand in East Europe and enhance its presence in the insurance segment, Tier-1 IT major Tech Mahindra (TechM) announced a 310 million Euro ($353 million/Rs 2,632 crore) acquisition. The Europe-based Com Tec Co IT (CTC) with development centres in Latvia and Belarus offers digital engineering and outsourced product development services for global clients in the insurance vertical.
Analysts at Sharekhan believe that the acquisition will scale-up Tech Mahindra’s insurance business by acquiring deep-domain expertise, provide access to advanced capability, and bring synergy through cross-sell opportunities. Strong growth and high margins commanded by CTC is
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