IT services major Tech Mahindra Friday said it would acquire Dynacommerce Holding BV in a deal valued at over 15 million euro.
"Tech Mahindra has today signed an agreement to purchase 100 per cent of shares in Dynacommerce Holding BV. As a result, Dynacommerce will play a key role in further enhancing Tech Mahindra's customer experience strategy," the company said in a statement.
It added that the two companies have been partners for a number of years, working together to offer omni-channel, multi-play sales and delivery orchestration solutions to a range of customers worldwide.
In a regulatory filing, Tech Mahindra said "euro 4.39 million estimated initial value to be paid for the acquisition of shares subject to certain pre-closing and post-closing adjustments".
In addition to this, there are contingent payments to be made over five years, it added.
Besides, the deal also involves settlement of debt by Tech Mahindra, which will pay 11.48 million euro, the filing said.
"Tech Mahindra's focus has been on helping our customers to run digitally, change digitally and grow digitally. Our strategic investment in Dynacommerce will provide concrete support to our digital transformation strategy and enable a future-proof and future-ready digital experience to our customers," Tech Mahindra Managing Director and Chief Executive Officer C P Gurnani said.
In the filing, Tech Mahindra said it expects the transaction to close later this month.
Founded in July 2016, Dynacommerce is in the business of providing software platform and services to telecom clients. It has 129 employees.
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