Tech Mahindra has signed a definitive agreement to acquire global Network Services leader Lightbridge Communications Corporation (LCC) for an enterprise value of approximately USD 240M, subject to regulatory approvals. The transaction is expected to close by Q4 of Tech Mahindra’s 2015 Fiscal Year.
With this acquisition, Tech Mahindra will also be addressing a rapidly growing market opportunity as Telecommunications companies and enterprises accelerate the network upgrade cycle. With Networks increasingly becoming all IP-based and Virtual, software will play a key role in managing the networks of the future. Tech Mahindra’s deep software skills, in combination with LCC’s world-class network engineering capabilities, will further differentiate Tech Mahindra’s offerings to both our Communications and Enterprise customers.
CP Gurnani, MD & CEO, Tech Mahindra, says, “This acquisition is a defining moment for Tech Mahindra and the network services sector. We will now be the largest and most comprehensive provider of technology services to Communications Service Providers. Our 25 years of rich experience in delivering technology solutions to enterprises and communications service providers globally will be significantly strengthened by this acquisition. ”
The acquisition of LCC will strongly augment the systematic investments that Tech Mahindra has been making in its network services business over the last few years. Tech Mahindra’s network consulting, integration and operations services in conjunction with LCC’s network engineering and field services will enable the company to offer a full range of network services to both communications service providers as well as to the ecosystem of partners who cater to the Communications sector.
