Tech Mahindra has acquired Zen3 Infosolutions (America) for $44 million. A further $22 million will be paid out after three years, based on performance. The all-cash transaction is expected to close by April 1.
Zen3 is a software solution group with expertise in software product engineering, DevOps testing, machine learning, AI and analytics.
Tech Mahindra said in a filing to the BSE that the acquisition would bring strong capabilities in AI enablement services. This will also help it to bolster its enterprise application practice.
Source: Economic Times