- Economy
- Education And Career
- Companies & Markets
- Gadgets & Technology
- After Hours
- Healthcare
- Banking & Finance
- Entrepreneurship
- Energy & Infra
- Case Study
- Video
- More
- Sustainability
- Web Exclusive
- Opinion
- Luxury
- Legal
- Property Review
- Cloud
- Blockchain
- Workplace
- Collaboration
- Developer
- Digital India
- Infrastructure
- Work Life Balance
- Test category by sumit
- Sports
- National
- World
- Entertainment
- Lifestyle
- Science
- Health
- Tech
Tech Mahindra To Sell 100% Stake In Dynacommerce For €6.6 Mn
The company said that the sale would not impact its consolidated turnover
Photo Credit :
IT conglomerate Tech Mahindra on Friday announced sale of its entire stake in Dynacommerce Holdings B.V., a wholly owned subsidiary of the company to Comviva Netherlands B.V., a step-down subsidiary of the company.
The company said that the sale would not impact its consolidated turnover as Dynacommerce turnover stood at Euro 5.1 million, which is less than 1 per cent of the total revenue of Tech Mahindra Limited in CY2021.
Tech Mahindra is likely to receive EUR 6.6 million after the completion of the sale. The agreement is expected to be signed during the first week of January 2023.
The buyer is Comviva Netherlands B.V., a wholly owned subsidiary of Comviva Technologies Limited, subsidiary of Tech Mahindra.