Tech Mahindra acquires BASF Business Services Consult

Tech Mahindra GmbH, a wholly-owned German subsidiary of Tech Mahindra Ltd, a specialist provider of IT solutions and services, has signed an agreement with BASF Business Services Holding GmbH to acquire its third party business including the 100%-owned subsidiary BASF Business Services Consult GmbH.
 
In future, BASF Business Services Holding GmbH will focus on providing information services, supply chain operations and business process management for BASF Group, one of the world’s largest chemical companies. These include consulting, development and operation of IT systems as well as the design of business processes along the value chain. Following this strategic decision, the company will not continue its business with third party customers, which has sales in the low double-digit million euro range.
 
Legal closing of the transaction is expected to happen in the first quarter of FY 2015. All 60 employees of BASF Business Services Consult GmbH will be transitioned to Tech Mahindra as part of this transaction.
 
Vikram Nair, Head – Europe (Enterprise), Tech Mahindra, said, “This is a strategic move and a testimony of our commitment to the region. It will bring us closer to our customers and will help us to deliver holistic solutions. I am confident that the acquisition will spur rapid growth in this region.”