Tech Mahindra to acquire 17.5% stake in Altiostar Networks

Mumbai, Jan 18 (IANS) IT major Tech Mahindra on Thursday said that it will acquire 17.5 per cent stake in US-based Altiostar Networks for $15 million.

According to a BSE filing, share acquisition will be made through its wholly-owned subsidiary Tech Mahindra (Americas) Inc, US.

"... the Investment Committee of the Board of Directors of the company has approved the proposal to acquire shareholding in Altiostar Networks, Inc., USA through its wholly owned subsidiary i.e. Tech Mahindra (Americas) Inc, USA," the company said in the filing.

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