Tech Mahindra to acquire Switzerland's SOFGEN

The acquisition will add USD 45 million to the revenue, Ravi Vasantraj, Global Head -- BFSI, Tech Mahindra told CNBC-TV18.

Tech Mahindra  has signed agreement to acquire Switzerland-based niche consulting and services company SOFGEN Holdings in an all-cash deal.

The acquisition will add USD 45 million to the revenue, Ravi Vasantraj, Global Head -- BFSI, Tech Mahindra told CNBC-TV18. SOFGEN has a worldwide presence specializing in private, commercial and retail banking and has around 20 Tier-I clients across geographies. The firm has over 450 employees.

Tech Mahindra expects to close the transaction by March 2015.

Tech Mahindra stock price

On January 09, 2015, at 14:14 hrs Tech Mahindra was quoting at Rs 2650.00, up Rs 83.00, or 3.23 percent. The 52-week high of the share was Rs 2719.00 and the 52-week low was Rs 1677.65.

The company's trailing 12-month (TTM) EPS was at Rs 106.86 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 24.8. The latest book value of the company is Rs 358.16 per share. At current value, the price-to-book value of the company is 7.40.

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