Tech Mahindra Ltd., India’s fifth largest software services exporter, has announced that it has signed an agreement to acquire US-based Lightbridge Communications Corporation (LCC) for $240 million.
LCC is a global network services leader. The transaction is expected to close by fourth quarter of Tech Mahindra’s fiscal year 2015.
Headquartered in McLean, Virginia, LCC is one-of-the world’s largest independent global providers of network engineering services to the telecommunications industry, with more than 5,000 employees in over 50 countries, said a statement by Tech Mahindra here Thursday.
With annual revenues of more than $400 million, LCC has built 350 networks and designed more than 350,000 cell sites for over 400 customers worldwide. The acquisition positions Tech Mahindra, a specialist in digital transformation, consulting and business re-engineering, as the pre-eminent partner for network services globally.
With this acquisition, Tech Mahindra will also be addressing a rapidly growing market opportunity as telecommunications companies and enterprises accelerate the network upgrade cycle.