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Tech Mahindra Buys Comviva for Rs 260-Crore

Tech Mahindra Ltd acquired 51 per cent stake on a fully diluted basis in Comviva Technologies Ltd for Rs 260 crore on Sept. 17, 2012.

Comviva Technologies is a Bharti Group company providing mobile value-added services.

The deal will be subject to regulatory approvals. The new brand identity will be Mahindra Comviva.

The current promoters will continue to hold a 20 per cent stake on a fully diluted basis in Comviva, post the deal closure.

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