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Tech Mahindra forays into Mexican market

Information technology and software services provider Tech Mahindra Limited has entered the Mexican market as part of its strategy to expand in the American region, it said in a statement.

In Mexico, the company will provide solutions and consulting services focused on meeting the requirements of customers in industries such as telecom, energy, banking, manufacturing and insurance, the statement said.

“We are excited about the economic growth potential in Mexico. We are committed to the nation and look forward to building and delivering connected solutions," Tech Mahindra MD and CEO CP Gurnani said.

The software services provider is looking to generate employment for around 500 people over the next 24 months through partnerships with local universities, business schools and trade bodies, it added.

Meanwhile, Bloomberg reported that Tech Mahindra, which bought Satyam Computer Services Ltd (Mahindra Satyam), is looking at acquisitions to reduce dependence on telecom clients. Its major clients include Vodafone Group Plc and Blackberry. It is mulling to bolster revenue from sectors like healthcare and retail.

Shares of Tech Mahindra were trading at Rs 1,792.20 at 3:30 pm, up 1.09 per cent on Monday from its previous close on BSE, in a strong Mumbai market.

(Edited by Joby Puthuparampil Johnson)

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