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Tech Mahindra plans to buyout Financial Technologies: Report

10 Jan 2014 Evaluate

Tech Mahindra is reportedly planning to buyout Financial Technologies (FT) if the promoter is asked to sell his stake as part of the NSEL scam proceedings. In this regard, the company has initiated an evaluation of Financial Technologies for a buyout possibility.

Tech Mahindra wants to re-gain its strength in the BFSI segment which had been hit bad in the Satyam portfolio. FT may provide enough traction in this vertical.

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.

Peers
Company Name CMP
TCS 2302.00
Infosys 1088.90
HCL Technologies 1329.00
Wipro 171.00
Tech Mahindra 1576.00
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