Tech Mahindra acquires K-Vision to build its network service business in Japan
MUMBAI: Tech Mahindra has acquired Japan based company K-Vision for $1.5 million to leverage the local presence and expertise of K—Vision to build its network services business in Japan. Tech Mahindra will support the 4G and 50 network-build and roll-out in Japan for large telecom players.
In its BSE filing, the company informed, “The Investment Committee of the Board of Directors of the Company has approved the proposal to acquire 100% shareholding in K-Vision Co Ltd. through its wholly owned subsidiary i.e. Mahindra Engineering Services (Europe)Limited.”
K-Vision, headquartered out of Osaka, Japan was founded in the year 2006. The company is primarily engaged in providing network services for mobile communication carriers in Japan.
For the financial year ending 31st March 2018, the company had revenue of US$ 3.3 million. For the 12 month period ending 31st January, 2019, the company had revenue of $4.8 million. The deal was signed on 14th March and is expected to close by 31st March.