Mindtree has signed definite pact to acquire US-based Discoverture Solutions LLC, a provider of insurance solutions for a consideration of around $15 million. The all-cash transaction will be paid over the next 18 months and the company will pay the same through internal accruals.
At present, Discoverture operates in an annual revenue run-rate of around $14 million, and Mindtree expects its contribution to the company's revenues in the Q4 FY15 revenues of FY15 will not be significant.
Mindtree is a global information technology consulting firm specializing in corporate IT services and solutions. It provides services such as Application Maintenance Services, Business Intelligence, Mainframe and System I, Infrastructure Management and Technical Support, etc.
