Tech Mahindra has reported that it acquired entire stakes in its two South African joint ventures, namely Tech Mahindra South (Pty) Limited and Tech Mahindra Holdco Pty Ltd, for about Rs 30 crore.
As per BSE filing, the technology giant will acquire a 49% stake in Tech Mahindra South (Pty) and 4% in Mahindra Holdco Pty Ltd from its partner Falcorp Technologies, which is exiting the joint venture. Falcorp is a South African-based digital technology organisation. It develops digital solutions that empower organisations to do better business.
Tech Mahindra immediately acquired a stake in these two firms in cash transactions amounting to 62 million South African Rand (about Rs 29.69 crore).

Pune-based Tech Mahindra is an Indian multinational information technology services and consulting company. Part of the Mahindra Group, it has its registered office in Mumbai. It employs nearly 145,000 people across 90 countries.