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M&A Deal Summary

Tech Mahindra Acquires CTC

On January 17, 2022, Tech Mahindra acquired information technology company CTC for 310M EUR

Acquisition Highlights
  • This is Tech Mahindra’s 8th transaction in the Information Technology sector.
  • This is Tech Mahindra’s 2nd largest (disclosed) transaction.
  • This is Tech Mahindra’s 2nd transaction in Cyprus.

M&A Deal Summary
Date 2022-01-17
Target CTC
Sector Information Technology
Buyer(s) Tech Mahindra
Deal Type Add-on Acquisition
Deal Value 310M EUR

Target

CTC

Egkomi, Cyprus
CTC is an IT solution and service provider serving the insurance and financial services industries with development centers in Latvia and Belarus. CTC was founded in 2011 and is based in Egkomi, Cyprus.

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Buyer(S) 1

Buyer

Tech Mahindra

Pune, India
Category Company
Founded 1986
Sector Information Technology
Employees148,517
Revenue 529.9B INR (2025)
DESCRIPTION

Tech Mahindra is an entity which provides information technology services and solutions in India, the Americas, Europe, and internationally. Tech Mahindra was founded in 1986 and is based in Pune, Maharshtra.

DEAL STATS #
Overall 16 of 16
Sector: Information Technology M&A 8 of 8
Type: Add-on Acquisition M&A Deals 15 of 15
Country: Cyprus M&A 2 of 2
Year: 2022 M&A 1 of 1
Size (of disclosed) 2 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-25 We Make Websites

London, United Kingdom

We Make Websites is focused on website building, migration services on the Shopify Plus platform. We Make Websites was founded in 2009 and is based in London, United Kingdom.

Buy £9M
Mergr

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