Mahindra Satyam Buys Majority Stake in Complex IT
February 15, 2013 5:22 PM EST
Mahindra Satyam, a software services provider, said it acquired a majority stake in Brazil's Complex IT, a provider of consultancy on the use of SAP AG's business management software, for an undisclosed sum.
Tech Mahindra, Satyam's parent company, is looking to make acquisitions to add capabilities and customers. The company acquired businesses, including the back office unit of Hutchison Whampoa (0013.HK) and Comviva, an Indian provider of software for telecoms carriers, in this fiscal year that ends March 31.
The company has said it expects to complete merging Satyam with itself in March. The combined company, which is expected to get a brand overhaul soon, is the fifth-largest software services provider in India.
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