Multifaceted IT service provider Tech Mahindra, headquartered in India, on Nov. 20 announced its acquisition of U.S.-based Lightbridge Communications for $240 million.
Pending necessary regulatory approval, the deal is expected to close in early 2015.
Manish Vyas, Tech Mahindra’s head of business development for communication solutions, said the acquisition will allow the firm to “expand significantly. It’s an acquisition that is helping us add capacity capability.”
“We will now become a very strong, formidable player,” he said, “for the communications business and in the enterprise world as well. It gives us capacity and expertise. It gives us a managed solution platform that we can take to market together.”
LCC, based in McLean, Va., is one of the world’s largest telecommunications network engineering services providers. With annual revenue in the $400 million range, LCC has more than 5,000 employees in more than 50 countries.
<h2>Tech Mahindra, Lightbridge combine expertise</h2>
Tech Mahindra reps said the company’s software skills will pair well with LCC’s telco engineering expertise as the telecommunications industry moves toward all IP-based or virtual operations.
“This partnership is another significant step toward the globalization of Tech Mahindra as we welcome a diverse workforce of over 5,000 network professionals across five continents and more than 50 countries,” said Vineet Nayyar, EVP of Tech Mahindra. “We expect network services to be a major growth engine for our organization.”
CEO Kenneth Young of LCC said that the burgeoning partnership will create “the industry’s largest network engineering, deployment and managed services organization. Having Tech Mahindra’s breadth of services to provide advanced managed network services coupled with its size and scale, will help us increase the performance of our customers’ ever-evolving networks.”
Tech Mahindra is part of the Mahindra Group, which is worth some $16.5 billion; aside from network services, the company has interests in financial services, IT, farm implements, automotive and even vacation ownership.
