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Tech Mahindra completed the acquisition of Zen3 Infosolutions for $64m.

Financials

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Transaction Value£48m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Sources

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Tags

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big data

Completed

United States

Software

Private

information services

Cross Border

artificial intelligence

machine learning

Acquisition

Single Bidder

Majority

Friendly

Synopsis

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Tech Mahindra, an IT services provider, completed the acquisition of Zen3 Infosolutions, an AI and cloud services provider, for $64m. "It has been a quarter of strong growth with substantial operational and financial metrics improvement. This quarter also witnessed healthy cash flow generation, and with a view to returning enhanced value to our shareholders, we are announcing an interim dividend of Rs 10 per equity share i.e. 200%," CP Gurnani, Tech Mahindra, Managing Director and CEO.

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