Tech Mahindra to Acquire K-Vision for $1.5 Million to Expand 5G Business
K-Vision Provides Network Services for Mobile Communications to Telecom Operators in Japan. the Company Earned Revenue of $4.8 Million During the 12-Month Period Ended January 31, 2019.
IT company Tech Mahindra will acquire Japan-based mobile network solution firm K-Vision for $1.5 million in an all-cash deal to support 4G and 5G telecom network roll-out in Japan. “The investment committee of the board of directors of the company has approved the proposal to acquire 100 percent shareholding in M/s K-Vision Co., Ltd through its wholly owned subsidiary ie Mahindra Engineering Services (Europe) Limited,” Tech Mahindra said in a note.
K-Vision provides network services for mobile communications to telecom operators in Japan. The company earned revenue of $4.8 million during the 12-month period ended January 31, 2019.
“Tech Mahindra through its wholly owned subsidiary…intends to leverage the local presence and expertise of K-Vision to build its network services business in Japan. In the near term, Tech Mahindra will support 4G and 5G network build and roll-out in Japan for large telecom players,” the note said.
The deal between Tech Mahindra and K-Vision was signed on Thursday and is expected to close by end of this month.