Acquisition of CJS Solutions approved by Tech Mahindra Board
Monday, March 6, 2017, 6:35 PM
Acquisition of CJS Solutions by Indian IT giant Tech Mahindra, has been approved by its Board. The enterprise value of the company is fixed at USD 110 million. Tech Mahindra will pay USD 89.5 million upfront for around 84.7% of CJS' stake. The remaining stake will be paid over the next three years. It will be acquired with a combination of cash and borrowings.