Information technology and software services provider Tech Mahindra Ltd is forming a joint venture (JV) with global telecom technology firm Avion Systems, according to a stock market disclosure.
Tech Mahindra will own a minority stake in the proposed JV which has been named as Avion Networks Inc. The financial details of the deal, however, remained undisclosed.
The JV will offer network design and engineering services for the deployment and management of mobile networks and the transformation of these networks to cloud-enabled, virtual and open-systems software driven networks.
“Avion Systems has deep expertise and vast experience in network services, an area chosen by us to invest and grow into,” Manish Vyas, president of the communications group at Tech Mahindra, said.
“With this strategic and synergistic partnership, Avion Networks can now offer both innovative telecom-technology solutions and scale of operations to the global communications industry,” Kanchana Raman, founder and president of Avion Systems Inc.
Atlanta-based Avion Systems is a global technology firm serving major operators and OEMs in converged communications, broadband heterogeneous network (4G LTE/Carrier Wi-Fi/DAS) engineering service, ICT solutions and innovations.
Tech Mahindra has been acquiring firms and striking partnerships to grow its business. In November, it signed a definitive agreement to acquire US-based global network services provider Lightbridge Communications Corporation (LCC) for $240 million.
In the past it has acquired and merged Satyam with itself.
Shares of Tech Mahindra closed at Rs 2,567.00 each, up 1.66 per cent on BSE in a strong Mumbai market on Thursday.
(Edited by Joby Puthuparampil Johnson) Leave Your Comment