Tech Mahindra Acquires Com Tec Co IT Ltd; Invests in SWFT and Surance
January 17, 2022
Tech Mahindra has acquired 100% of Com Tec Co IT Ltd (CTC) for approximately €310 million (including earnouts) to bolster its digital engineering capabilities and scale a European nearshore delivery footprint. Concurrently, Tech Mahindra invested a total of €20 million to take 25% stakes each in InsurTech platforms SWFT and Surance to strengthen its insurance-focused SaaS and cyber-insurance offerings.
- Buyers
- Tech Mahindra
- Targets
- Com Tec Co IT Ltd, SWFT, Surance
- Industry
- IT Services
- Location
- Latvia
- Transaction Type
- Buyout
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