Tech Mahindra to acquire Zen3 Infosolutions for Rs 460 crores

New Delhi: IT company Tech Mahindra on Monday said it has signed an agreement to acquire 100 per cent stake in US-based Zen3 Infosolutions for $64 million (Rs 460 crore) in an all-cash deal.

Headquartered in Seattle, Zen 3 has over 1,300 employees spread across offices in Seattle, Dublin, Hyderabad, Vishakhapatnam and Bengaluru.

"The acquisition of Zen3 Infosolutions is in line with our strategy to build new capabilities.

It has expertise in artificial intelligence, machine learning, annotations, cloud engineering etc. which are high growth area," Vivek Agrawal- Global Head, Enterprise Business and Portfolio Companies, Tech Mahindra said.