Tech Mahindra buys Japanese teleco K-Vision for $ 1.5 million
Chennai: Tech Mahindra has announced the acquisition of Japanese
telecom network service company K-Vision for $1.5 million through
its wholly-owned subsidiary Mahindra Engineering Services (Europe).
The all-cash deal was signed on March 14 and is expected to be
closed by March 31, the company said in its stock market
The Osaka headquartered K-Vision was founded in 2006 and is primarily engaged in providing network services for mobile communication carriers in Japan. For the financial year ending March 31, 2018, the company had revenue of $3.3 million. For the 12 month period ending January 31, 2019, the company had revenue of $ 4.8 million.
“Tech Mahindra intends to leverage the local presence and expertise of K-Vision to build its network services business in Japan,” said the company in a statement. “In the near term, Tech Mahindra will support the 4G and 5G network-build and roll-out in Japan for large telecom players.” Tech Mahindra share closed at Rs 788.5 on the BSE on Thursday, down 0.32%.