Tech Mahindra to invest up to Rs 700 crore over the next 2-3 years

Says products and platforms unit can become a $1-billion business in the next 2-3 years

IT services major Tech Mahindra (TechM) on Friday said it would invest Rs 500-700 crore into the newly carved out products and platforms unit over the next 2-3 years. The company believes that the unit can become a $1-billion business in the same period.

“We had acquired Comviva a few years back,  which has been creating products and platforms for the telecom sector. A few months back we decided to merge all our other product and platform offering into Comviva,” said C P Gurnani, managing director and chief executive officer, TechM.  

He also added that Comviva’s standalone revenue stood at