Tech Mahindra Ltd.

Tech Mahindra has received an approval to acquire shareholding in Altiostar Networks, Inc., USA through its Wholly Owned Subsidiary - Tech Mahindra (Americas) Inc, USA. The Investment Committee of the Board of Directors of the company at its meeting has approved the proposal. Altiostar Networks, Inc. (Altiostar) is a US corporation having presence in 6 countries in Europe, APAC and Latam regions.

This is a portfolio investment from Tech Mahindra (TML) in the nascent but promising and fast-growing virtualized RAN space. It is investing an amount of $15 million in return for a 17.5% shareholding in Altiostar on a fully diluted basis. The investment will be completed by January 19, 2018.

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.