Tech Mahindra Ltd.

Tech Mahindra’s wholly-owned subsidiary -- Tech Mahindra Servicos De Informatica S.A has entered into and executed a Quota Purchase Agreement with Orange Business Services Brasil LTDA (Orange Business) for acquisition of Alyis Servicos Tecnicos LTDA, in accordance with the terms and conditions as stipulated in the said Agreement.

The acquisition is part of the partnership signed between the Company and Orange Business Services Brasil, which includes outsourcing of selected international operations including global customer support, quote to bill and post-sale support. Alyis Serviços Tecnicos LTDA has operations in Brazil supporting the LATAM region, and this acquisition will enable the Company to provide seamless support to Orange Business Services Brasil customers.

Consequent to completion of the Transaction, Alyis Servicos Tecnicos LTDA will become a wholly-owned subsidiary of Tech Mahindra Servicos De Informatica S.A and a wholly-owned stepdown subsidiary of the Company. The cost of acquisition is 1.2 million Brazilian real (BRL), equivalent to around Rs 2.21 crore at an exchange rate of Rs 18.42 per BRL.

Tech Mahindra offers technology consulting and digital solutions to global enterprises across industries, enabling transformative scale at unparalleled speed.