Indian Economy News

Tech Mahindra forms joint venture with Avion Systems

  • Livemint" target="_blank">Livemint
  • January 7, 2015

Mumbai: Tech Mahindra Ltd, India’s fifth-largest software services exporter, said on Tuesday that it had formed a joint venture with global telecom technology firm Avion Systems.

Details of the transaction were not disclosed, except that Tech Mahindra will hold a minority stake in the joint venture which will henceforth be called Avion Networks Inc.

The joint venture will provide network design and engineering services for the deployment and management of mobile networks and the transformation of these networks to cloud-enabled, virtual and open-systems software driven networks.

“Avion Systems has deep expertise and vast experience in network services, an area chosen by us to invest and grow into,” said Manish Vyas, president of the communications group at Tech Mahindra.

“With this strategic and synergistic partnership, Avion Networks can now offer both innovative telecom-technology solutions and scale of operations to the global communications industry,” said Kanchana Raman, founder and president of Avion Systems Inc.

The announcement was made after market hours.

On Tuesday, shares of Tech Mahindra fell 1.04% to Rs.2537.55 on BSE, while the exchange’s benchmark Sensex shed 3.07% to 26,987.46 points.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.