INSUBCONTINENT EXCLUSIVE:
Tech Mahindra today announced that it would be acquiring an 18.1% stake in Infotek Software and Systems and Vitaran Electronics for up to Rs
13 crore.
These would be cash transactions, said the company in a BSE filing
solution portfolio to cater to the smart city projects, said the company
incorporated in 2000 and trades in RFID products and provides supporting installation and software maintenance services
Vitaran was incorporated in 2006 and trades in RFID products which form part of access control systems
Both the companies are based in India
Earlier this year, Tech Mahindra CEO CP Gurnani had said that the company would remain on the look out for acquisitions that would bring
specific skills and capabilities to the company
