Tech Mahindra enters agreement to acquire 75 pct stake in FixStream Network Inc

Apr 21 2014, 15:40 IST
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SummaryTech Mahindra shares touched a high of Rs 1,790, up 1.14%, during intra day trade today.

Tech Mahindra Ltd has entered into an agreement to acquire 75 % stake in a technology startup FixStream Network Inc (FSNI) for $10 million or about Rs 60 crore, the company said in a stock market disclosure.

“FixStream Network Inc is going to develop emerging technology which will benefit Tech Mahindra Ltd’s customer base,” it said.

Tech Mahindra shares touched a high of Rs 1,790, up 1.14%, during intra day trade on the BSE on Monday. They were trading at Rs 1, 774.80 at 2 pm.

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