IT company Tech Mahindra is looking for acquisitions in Europe to upgrade its capabilities in various segments, including cloud computing, 5G, SAP and Salesforce softwares, a senior company official said on Wednesday.
Tech Mahindra is also planning to add around 250 people in the Nordic region to support its growth, Tech Mahindra business head for Europe Mukul Dhyani told PTI.
“We are expanding our footprint in the cloud, digital topics like 5G, SAP and Salesforce. These are some of the broader topics we are looking at from an expansion perspective. We are looking at multiple companies (for acquisition). If we get a single entity across four domains or five domains, we will be happy,” Dhyani said.
The company is mainly looking at boutique companies specialising in particular domains like SAP, Salesforce etc with several hundred of employees.
Dhyani said that Tech Mahindra’s ability to computerise data and bring operating technology and IT for enterprises and deployment for 5G in organisations is driving the company’s business in Europe, especially in the Nordic region.
“We are committed to hiring 250 people only in Nordics in the next 18-24 months. These additions will be in different technologies, but primarily it will be in the case of SAP and Cloud Network and 5G,” Dhyani said.
Tech Mahindra has over 3,500 workforce in Continental Europe including Nordic Region.
The company plans to hire local people in the Nordic region. It is opening a centre in Norway as well as twin centres in Mannheim, Germany.
“Subsequent to that we have expanded our operations and a centre in Gothenburg in Sweden. We have a concentration of large customers in that region,” Dhyani said.
Tech Mahindra officials said that the company is investing in localisation of service in the Nordic region and looking at each market differently.
“We have looked at country-level planning. For us, Sweden is one of the biggest from a market perspective when it comes to Nordic countries as well as an opportunity perspective,” Dhyani said.
Tech Mahindra claims to have doubled investments for business opportunities in the manufacturing, banking, financial services and insurance sector, specifically to Sweden.
“We have invested in retail, consumer products and oil and gas when it comes to Norway. We are seeing a lot of traction in that market. Subsequent to that, both in Denmark and Finland, we are focusing on manufacturing and in the retail sector,” Dhyani said.
He said that the company is setting up one lab for 5G-related work in Finland.
Source: Economic Times