Tech Mahindra — M&A Activity 2019

Mar 14, 2019

Tech Mahindra

Tech Mahindra Limited Sharda Centre, Off Karve Road Pune 411004, Maharashtra, India

Tel. +91 20 6601 8100 Fax. +91 20 2542 4466

techmahindra.com connect@techmahindra.com

Registered Office: Gateway Building, Apollo Bunder Mumbai 400 001, India

CIN L64200MH1986PLC041370

March 14th, 2019

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

National Stock Exchange of India Limited Exchange Plaza, 5th floor, Plot No. - C/1, G Block, Bandra-Kurla Complex, Bandra (E) $MUMBAI - 400051$ NSE Symbol: TECHM

Sub: Approval of proposal for acquisition of Shareholding in M/s K-Vision Co., Ltd. through a Wholly Owned Subsidiary of the Company.

Dear Sirs/Madam.

Pursuant to Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, we wish to inform that the Investment Committee of the Board of Directors of the Company has approved the proposal to acquire 100% shareholding in M/s K-Vision Co., Ltd. through its Wholly Owned Subsidiary i.e. Mahindra Engineering Services (Europe) Limited.

In this regard, please find enclosed herewith, Disclosure containing the details pursuant to Regulation 30(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated 9th September, 2015 as Annexure 1.

This is for your information and record.

Please acknowledge receipt of the same.

Thanking you,

For Tech Mahindra Limited

$\star$ Anil Khatri Company Secretary NB-Encl.: As stated above

Tech Inahkmka Annexure ^I

Sr. No.	Items for Disclosure l	Description i
1	Name of entity, details in brief the target such as size, turnover, etc.	K-Vision Ltd" the is a Japanese corporation target C70,, The in is entity. primarily providing company engaged for mobile communication network services can Icrs in Japan. For the financial year ending 31" March' 2018, the revenue of For the month had 3.3mm. 12 USS; company period ending 31" January, 2019, the company had revenue of USES 4.8mn. :
2	Whether the transaction would fall within related party transaction(s) and whether the promoter/ group/ promoter group interest in the entity companies have any being acquircd71t'yes, nature ofinterest and details thereofand whether the same is done at "arms-length"	No
3	industry to which the entity being acquired belongs	'I'elecom
A	Objects and efl'ects ofacquisition -	Owned Subsidiary i.et Tech Mahindra through its Wholly Limited Mahindra Engineering Services (Europe) intends ot'K—Vision to the local presence and expertise to leverage build its network services business in Japan. in the near term, Tech Mahindra will support the 4G and 50 network build and roll-out in Japan for large telecom players.
5	Briei'details ofany governmental or regulatory approvals required for the acquisition	None
6	ofthe indicative time period for completion acquisition;	on 14'" March, 2019. The deal was signed by 315' March, 2019, Closing is expected
7	- of whether Nature consideration cash and details of l consideration or share swap the same	Cash consideration
8 -_,	at which the or the price Cost ofacquisition shares are acquired:	Value ofthe deal is US\$19 1.5mn. The Enterprise ' ,0. —_i
9	W of / control shareholding Percentage acquired and / or number ol'shares acquired;	, in the target diluted share capital was acquired 100% offully i 1 entity
10	Brief background about the entity acquired / of of line business in terms products incorporation, history of acquired, date of i in which the last 3 years turnover. country other and any acquired entity has presence significant information (in brief);	Japan. it is headquartered out ofOsaka, was The company founded in the year 2006. providing network engaged in The company is primarily For the services for mobile communication carriers in Japan. March 2018. the company year ending 31" had financial ending 31" rcvenuc ofUS\$3.3mIL For the 12 month period had revenue ofUS\$4.8mn. Jan 2019, the company

For Tech Mahindra Limited

,(A An atri Company Secretary