Tech Mahindra's Subsidiary To Acquire Stake In Altiostar Networks

Written By: Archana
Subscribe to GoodReturns
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

    Tech Mahindra Limited (TML) has informed the exchange that the Investment Committee of the Board of Directors of the Company has approved the proposal to acquire a shareholding in Altiostar Networks, Inc., USA through its Wholly Owned Subsidiary, i.e., Tech Mahindra (Americas) Inc, USA.

    Tech Mahindra's Subsidiary To Acquire Stake In Altiostar Networks

    Altiostar Networks, Inc, is a US-based telecommunications company, founded in 2011 by Mr. Ashraf Dahod. The company has its presence in six countries in Europe, APAC and LATAM regions. Headquartered in Tewksbury, USA, the company also has its presence in UK, Germany, India, Mexico, Argentina, and Israel. The company has approximately 220 employees.

    It is a portfolio investment from Tech Mahindra. Tech Mahindra through its wholly owned subsidiary Tech Mahindra (Americas) Inc, is investing an amount of USD 15million in return for a 17.50% shareholding in Altiostar on a fully diluted basis.

    The investment is expected to be completed by January 19, 2018.

    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    Get Latest News alerts from Goodreturns

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more