Tech Mahindra Ltd.

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.