Tech Mahindra Ltd.

Tech Mahindra has agreed to acquire 100% shareholding of Payments Technology Services. The cost of acquisition is $9 million and the transaction is expected to close by March 31, 2021.

Payments Technology Services was established in March 28, 2007 and is a payments solutions provider with a Banking and Financial Services (BFS) focus and is a step-down subsidiary of FIS. The acquisition will give Tech Mahindra IPs and licenses.

Tech Mahindra represents the connected world, offering innovative and customer-centric information technology experiences, enabling Enterprises, Associates and the Society to Rise.