Tech Mahindra buys LCC for $240 million in largest Indian IT deal this year

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In the largest acquisition in Indian software services space this year, Tech Mahindra will buy out US-based Lightbridge Communications Corporation (LCC) for US $240 million (over Rs 1,486 crore) in an all-cash deal.

Greyhound Research CEO Sanchit Vir Gogia said the acquisition makes Tech Mahindra the largest player in the network services space among IT services firms in India. “LCC’s subject matter expertise and Tech Mahindra’s local advantage makes this deal a formidable entity in the telecom space. LCC not only brings in software defined architecture, but also managed services capabilities,” he added.

Source: DNA

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