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Tech Mahindra gains on inking definitive agreement to acquire LCC

21 Nov 2014 Evaluate
Tech Mahindra is currently trading at Rs. 2716.70, up by 12.50 points or 0.46% from its previous closing of Rs. 2704.20 on the BSE.

The scrip opened at Rs. 2730.00 and has touched a high and low of Rs. 2741.00 and Rs. 2707.00 respectively. So far 16,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 2741.00 on 21-Nov-2014 and a 52 week low of Rs. 1643.30 on 21-Nov-2013.

Last one week high and low of the scrip stood at Rs. 2741.00 and Rs. 2573.10 respectively. The current market cap of the company is Rs. 63,907.00 crore.

The promoters holding in the company stood at 35.99% while Institutions and Non-Institutions held 50.27% and 13.74% respectively.

Tech Mahindra has signed a definitive agreement to acquire global Network Services leader Lightbridge Communications Corporation (LCC) for an enterprise value of around $240 million, subject to regulatory approvals. The transaction is expected to close by Q4 of Tech Mahindra’s 2015 Fiscal Year.

With this acquisition Tech Mahindra will also be addressing a rapidly growing market opportunity as Telecommunications companies and enterprises accelerate the network upgrade cycle. With Networks increasingly becoming all IP-based and Virtual, software will play a key role in managing the networks of the future.

The acquisition of LCC will strongly augment the systematic investments that Tech Mahindra has been making in its network services business over the last few years. Tech Mahindra's network consulting, integration and operations services in conjunction with LCC's network engineering and field services will enable the company to offer a full range of network services to both communications service providers as well as to the ecosystem of partners who cater to the Communications sector.

Tech Mahindra is a leading provider of solutions and services to the telecommunications industry with a majority stake owned by Mahindra & Mahindra. The company, since 2002 has operations in China with offices in Beijing, Shanghai, Nanjing and Guangzhou.

Tech Mahindra Share Price

1511.85 20.95 (1.41%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
TCS 2581.65
Infosys 1318.60
HCL Tech. 1442.50
Wipro 204.35
Tech Mahindra 1511.85
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