IT-based Tech Mahindra announced on Monday that it has acquired a 100% stake in Europe-based Com Techco IT (CCC) and a 25% stake in two insurance companies for a total of 330 million euros (about 2,800 Rs 2,800 kroner). He said the acquisitions will strengthen digital engineering and insurance technology businesses.
“It is the biggest capital expenditure in recent years to grow our digital engineering and insurance technology business,” said Vivek, president of Tech Mahindra BFSI, HLS and Corporate Development. The company was operating in April 2010 after a scam. Tech Mahindra bought 42 percent of the $ 1.1 billion enterprise value and invested $ 500 million in the site.
Tech Mahindra has acquired Tech Co IT (CTC) for 310 million euros (2,628 Rebels), including revenues and integrated payments. CTC had a revenue of 1. 71.3 million in 2020 and a total of 8. 58.8 million in the first nine months of September 2021, according to Tech Mahindra.
The CCC will be part of a total of about 720 employees in CCC. Tech Mahindra is investing another ሚሊዮን 20 million to acquire a 25% stake in SWFT Technologies and Insurance Forum – part of a founding team similar to CCC.
“The insurance industry is currently undergoing significant digital transformation, which is supported by digital technologies that disrupt new business models.
Tech Mahindra says it has a 25 percent stake in SWFT and Surans and has the option to grow further. “In terms of customer environment, these businesses serve customers mainly in Europe and North America. Some small businesses in Asia. In terms of supply space, these acquisitions expand existing Belarus and Latvia,” he said.
CTC is an IT solutions provider and service provider for the insurance and financial services industries with development centers in Latvia and Belarus. Survival is an end-to-end personal cyber insurance solution that focuses on risk assessment, cyber protection and cyber insurance.
Read all the latest news, breaking news and news from Corona Virus here.
.