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Corporate Feb 15, 2013

Mahindra Satyam acquires majority stake in Brazilian IT firm

Bangalore: Mahindra Satyam, a software services provider, said it acquired a majority stake in Brazil's Complex IT, a provider of consultancy on the use of SAP AG's business management software, for an undisclosed sum.

AFP

The company has said it expects to complete merging Satyam with itself in March. AFP

Tech Mahindra, Satyam's parent company, is looking to make acquisitions to add capabilities and customers. The company acquired businesses, including the back office unit of Hutchison Whampoa and Comviva, an Indian provider of software for telecoms carriers, in this fiscal year that ends March 31.

The company has said it expects to complete merging Satyam with itself in March. The combined company, which is expected to get a brand overhaul soon, is the fifth-largest software services provider in India.

Reuters

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