Tech Mahindra, the information technology unit of the Mahindra Group, said it signed a five-year IT deal with Finland’s Ahlstrom under which it will absorb about 50 Ahlstrom employees.
The deal is an end-to-end IT services contract, including parts of infrastructure management and application development and maintenance services. Tech Mahindra did not disclose the financial terms but a person with knowledge of the matter said it is worth about $50 million over the course of the contract.
“Finland is a very important and strategic market for us. This agreement will help us…with enabling our innovative service offerings for the customers in the region,” Rajesh Chandiramani, Tech Mahindra’s head of enterprise business for Continental Europe, said in a statement. The transition of the employees is scheduled to take place on December 1.