Tech Mahindra is planning for global acquisitions and is more keen on Australia to enhance its capabilities.
Tech Mahindra is looking for acquisitions in BFSI , telecom and healthcare sectors. It is also considering players to enhance its future technology offerings such as NMACS (Networks, mobility, analytics, cloud and security).
Australia which is a major contributor to the company’s revenue from the Rest Of the World (RoW) region is been looked upon as an alternate growth center following the slowdown in major economies like The US and UK. This region contributes 24 % to the combined turnover of $2.7 billion of the company and houses one fourth of its 84000 RoW employees.
The company is aiming to increase its volumes and targeting revenues of $5 Bn by 2015, post the acquisition.
In Japan, China and Korea, it is looking at forging partnerships with local companies. In the east, the company has operations in Vietnam and plans to start in Taiwan. Other target markets include Indonesia, the Philippines, Malaysia.
Tech Mahindra, part of the $16.2 Bn Mahindra Group, is a leading global systems integrator and business transformation consulting organization, focused primarily on the telecommunications industry. Tech Mahindra has a global footprint through operations in more than 31 countries with 17 sales offices and 15 delivery centers.
Jain Irrigation Systems is planning to divest its wind power business to bring down its debt by R63 Cr. This business is part of non-integral business lines. The transaction when completed shall result in reduction of foreign currency debt of $10.5 Mn from the books of the company.
The clinical-stage specialty bio-pharmaceutical company Vyome Biosciences Private Limited has raises $14 million in Series-C financing round. The financing round was led by a prominent New York based life sciences fund Perceptive Advisors. Apart from that the funding round saw participation of a Boston-based venture capital Romulus Capital along with existing investors.