1. Tech Mahindra gains after $240 mn acquisition

Tech Mahindra gains after $240 mn acquisition

Tech Mahindra shares gain 1 pct, adding to Thursday's 3 pct rise...

By: | Updated: November 21, 2014 9:51 AM

Tech Mahindra shares gain 1 pct, adding to Thursday’s 3 pct rise.

Company to buy network services operator Lightbridge Communications Corp (LCC) for $240 million.

LCC acquisition is happening at reasonable valuations and will bring in market share gains for Tech Mahindra – Analysts.

“There are 20 new customers that LCC brings to TECHM, which should present cross-selling opportunities,” Religare said in a note.

LCC is expected to have revenues of $430 million in 2014, it added.

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