Tech Mahindra — Capital/Financing Update 2021

Jan 12, 2021

Tech Mahindra

Tech Mahindra Limited

12 January, 2021

To BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, MUMBAI - 400 001 Scrip Code : 532755

National Stock Exchange of India Limited Exchange Plaza, 5" floor, Plot No. — C/1, G Block, Bandra-Kurla Complex, Bandra (E) MUMBAI - 400 051 NSE Symbol : TECHM

Sub: Approval of proposal for acquisition of 100% shareholding of Payments Technology Services Limited

Dear Sir/Madam,

Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ("SEBI Listing Regulations") we wish to inform that Tech Mahindra Limited has agreed to acquire 100% shareholding of Payments Technology Services Limited.

In this regard, please find enclosed herewith, disclosure containing the details pursuant to SEBI Listing Regulations, read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated 9" September, 2015 are given as 'Annexure I'.

This is for your information and record.

Please acknowledge receipt of the same.

Thanking you,

For Tech Mahindra Limited ——~

^ai lind \ 5 } wits \s PUNE ) 3)} Company Secretary

Encl.: As stated above

Annexure |

Annexure
Sr. No.	Items for Disclosure	Description
	Name of the target entity, details in brief such as size, turnover ete.;	The target entity is Payments Technology Services Limited. The company is headquartered in Hong Kong approximately employees. and 109 has Turnover of the Company for the financial year ended 31" December, 2019, was USD 5.4 million.
bo	Whether the would fall acquisition within transaction(s) related party and whether the promoter/ promoter companies group group/ have any interest in the entity being acquired? If yes, nature of interest' and details thereof and whether the same is done at "arms length";	No
tod	which the Industry to entity being acquired belongs;	IT Services
	Objects acquisition and effects of (including limited but not to, disclosure of reasons for acquisition business of target entity, if its is outside the main line of business of the listed entity);	The Payments Technology Services entity is a step down subsidiary of Fidelity Information Services (FIS). The acquired capabilities in the payments space will give us access to IPs and licenses for 2 products, which is consistent with our strategy of pivoting the business towards product and platform implementations and participating in the banking transformation programs. This acquisition will open up other opportunities for Tech Mahindra as a larger partner with FIS across a number of areas.
	Brief details of any governmental or regulatory approvals required for the acquisition;	Not Applicable
	Indicative time period for completion of the acquisition;	The transaction is expected to close by 31° March, 2021.
	Nature whether of consideration - cash consideration or share swap and details of the same;	Cash
	Cost of acquisition price at or the which the shares are acquired;	USD 9 million
	Percentage of shareholding / control acquired and / or number of shares agquired;	100%
	background Brief about acquired in terms of products/line of business acquired, date of incorporation, history 3 years of last country turnover, which the in	the entity Payments Technology Limited was Services established in March 28, 2007 and is a payments solutions provider with a Banking and Financial Services (BFS) focus and is a step-down subsidiary of FIS. The acquisition will give us IPs and licenses

Tech Mahindra acquired entity has presence and any | for 2 products - Open Payment Framework (OPF)

information significant other	(in & Multi-Bank System (MBS).
brief);	The turnover of the Company for the last 3 fiscal years ending:
	31 December, 2019: USD 5.4 million. a) 31 December, 2018: USD 5.1 million. b) 31% December, 2017: USD 4.4 million. c)

For Tech Mahindra Limited (andr i ON

i_ fe ^|Anil Khatri Ks UNE =} Lo Company Secretary YY Q4 er S*§ A