Tech Mahindra acquired 51% stake in Comviva Technologies

Tech Mahindra on 17 September 2012 acquired 51% stake in Comviva technology limited for 260 crore.

The new brand identity is now called as Mahindra Comviva, which reflects combined strength and spirit of both the entities.
With this Tech Mahindra enters into the world of Mobility Products and is set to build portfolio in Mobile VAS, Mobile Money and Mobile payments space.

The acquisition is going to enhance Tech Mahindra’s capabilities in the mobile VAS domain and will also provide access to a marquee client base, enabling significant cross-selling opportunities.

Comviva technology is Bharti group owned mobile value added service (VAS) provider and have Vodafone, Idea, NTT Docomo in its client list.  It was also earlier named as Bharti Telesoft when it was 50% owned by Bharti group. Comviva Technologies Ltd. was formed in 1999, and has grown rapidly to become the global leader in providing mobile VAS and financial solutions.

Tech Mahindra Limited is an Indian provider of networking technology solutions and business process outsourcing (BPO) services to the global telecommunications industry.   It is a joint venture between the Mahindra Group and BT Group plc, UK with M&M (Mahindra and Mahindra) holding 44% and BT holding 39% of the equity.