Moneycontrol
Get App
you are here: HomeNewsBusiness
Last Updated : Aug 13, 2019 01:59 PM IST | Source: PTI

Tech Mahindra to buy 65% stake in Mad*Pow for $17 million

"On behalf of Tech Mahindra, we would like to clarify that the analyst call transcript has a typo wherein the number of USD 17 million has been mistakenly mentioned as USD 70 million," Tech Mahindra spokesperson said in a statement on Tuesday.

 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

IT company Tech Mahindra will pay USD 17 million (about Rs 121 crore) to acquire 65 per cent stake in US-based strategic design consultancy firm Mad*Pow.

"On behalf of Tech Mahindra, we would like to clarify that the analyst call transcript has a typo wherein the number of USD 17 million has been mistakenly mentioned as USD 70 million," Tech Mahindra spokesperson said in a statement on Tuesday.

The analyst call transcript of Tech Mahindra earlier quoted Vivek Agarwal, head for corporate development & BFSI at Tech Mahindra, saying the company is buying 65 per cent upfront for USD 70 million.

Close
Tech Mahindra announced plans to acquire Mad*Pow on July 30.

Subscribe to Moneycontrol Pro and gain access to curated markets data, trading recommendations, equity analysis, investment ideas, insights from market gurus and much more. Get Moneycontrol PRO for 1 year at price of 3 months at 289. Use code FREEDOM.
First Published on Aug 13, 2019 01:52 pm
Loading...
Sections
Follow us on
Available On
PCI DSS Compliant