“The investment committee of the board of directors of the company has approved the proposal to acquire 100 per cent shareholding in M/s K-Vision Co., Ltd through its wholly owned subsidiary ie Mahindra Engineering Services (Europe) Limited,” Tech Mahindra said in a note.
K-Vision provides network services for mobile communications to telecom operators in Japan. The company earned revenue of USD 4.8 million during 12-month period ended January 31, 2019.
“Tech Mahindra through its wholly owned subsidiary…intends to leverage the local presence and expertise of K-Vision to build its network services business in Japan. In the near term, Tech Mahindra will support 4G and 5G network build and roll-out in Japan for large telecom players,” the note said.
The deal between Tech Mahindra and K-Vision was signed on Thursday and is expected to close by end of this month.