India’s largest IT services company Tech Mahindra said it will acquire US-based Lightbridge Communications Corporation (LCC) for $240 million.
Tech Mahindra Executive Vice-Chairman Vineet Nayyar said: “This partnership is another significant step towards the globalisation of Tech Mahindra as we welcome a diverse workforce of over 5,000 network professionals across five continents and more than 50 countries. We expect network services to be a major growth engine for our organisation.”
“Over three decades, LCC has grown to become the largest independent provider of wireless engineering services. Bringing LCC into Tech Mahindra will create the industry’s largest network engineering, deployment, and managed services organization,” said Kenneth Young, CEO of LCC.
“Having Tech Mahindra’s breadth of services to provide advanced managed network services coupled with its size and scale, will help us increase the performance of our customers’ ever-evolving networks,” he added.
Tech Mahindra earns more than 50% of its revenue from telecommunications business.
Tech Mahindra is a specialist in digital transformation, consulting and business re-engineering solutions.It is also amongst the Fab 50 companies in Asia as per the Forbes 2014 List.
Network Engineering Services to the Telecommunications industry, with more than 5,000 employees in over 50 countries. With annual revenues of more than $400 million, LCC has built 350 networks and designed more than 350,000 cell sites for over 400 customers worldwide.
LCC is Tech Mahindra’s seventh acquisition and the biggest in value after that of Satyam Computer.
In February, 2013, Tech Mahindra had acquired Brazilian SAP consulting provider Complex IT for an undisclosed amount.
