Tech Mahin­dra Ac­quires Con­trol­ling Stake in Com­viva

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Tech Mahin­dra has an­nounced the ac­qui­si­tion of 51% stake on a fully di­luted ba­sis in Com­viva Tech­nolo­gies, a Bharti Group com­pany for 260 crore. Com­viva is a global leader in pro­vid­ing mo­bile value added ser­vices (VAS), mo­bile money, and mo­bile pay­ment so­lu­tions. As part of this ar­range­ment, Tech Mahin­dra will make an up­front pay­ment of 125 crore to­wards the stake ac­quired and the bal­ance amount of 135 crore will be paid out over a pe­riod of 5 years based on Com­viva’s achiev­ing per­for­mance tar­gets.

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