Tech Mahindra to buy minority stake in Servissta

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Bangalore, Aug 28 (UNI) Tech Mahindra, an independent IT services provider in the telecom space, has signed an agreement to acquire a minority equity stake in Servista, a London-based systems integrator.

As part of the agreement, Tech Mahindra would be Servista's exclusive delivery arm for three years and also assist it in securing more largescale European IT offshoring business.

This deal was expected to drive Tech Mahindra's expansion into the European market place and enhance its business development capability, a company release said here today.

Mr C P Gurnani, President International Operations, Tech Mahindra said the company's strategy of pursuing long term customer relationships had always yielded definitive results.

UNI RS GM 1753

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