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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