Tech Mahindra to acquire 75% stake in fix Stream Networks Inc
Tech Mahindra to acquire 75% stake in fix Stream Networks Inc: A positive move forward
Tech Mahindra is progressing ahead with an agreement to acquire 75% stake in FSNI (Fix Stream Networks Inc). The company has informed BSE that it is acquiring a stake in this big data analytics company for a sum of $10 million. This is positive news for the company as Fix Stream has been evolving technology to benefit the customer base of Tech Mahindra.
Fix Stream Network Inc was established in May, 2013. It has a data integration and analytics platform. The focus of this firm is on data centres as well as cloud management. The best part about this agreement is that Tech Mahindra will now acquire know-how regarding the issues faced in a data centre and app specific environments. FSNI works towards visualizing hurdles faced in data centres and app development.
This company has offices in India and the US. Its tools can also be used for boosting the functioning of servers in the data centres. Tech Mahindra is aiming to make rapid innovations in the field of technology through other recent endeavours as well. It collaborated with semiconductor design and manufacturing firm Texas Instrument to set up a lab for developing solutions for the internet. The Texas Instruments Lab focused on developing solutions for the Internet of Things (IoT) in Bangalore.
Tech Mahindra has also announced the launch of a Global Centre of Excellence with noted IT and software company Hewlett Packard. The centre which is to be located in Bangalore will focus on automation and unification of basic key services in infrastructure performance management solutions. Tech Mahindra reported a revenue total of 4899 crore at the end of the third quarter in 2014.
The agreement with Fix Stream was signed on April 18th 2014 and it is subject to regulatory approvals. FSNI is a start up with immense potential for transforming the key operations of Tech Mahindra. Tech Mahindra has gained 0.5% on the BSE after the company entered into an agreement to acquire 75% stake in FSNI. Fix Stream Networks Inc is a technology start up company which is based out of 2 offices in Bangalore and California respectively.
It aims at improving the up time of data centre servers. This company has been operational for 1 year now. Fix Steam aims at building a network virtualization software platform to deal with complex issues in enterprise and service provider verticals. It has an immense potential to contribute positively to the operations of Tech Mahindra. Another contribution to Tech Mahindra will be in the development of emerging technologies through FSNI which will help to improve the corporate group’s consumer base.
Tech Mahindra has been rapidly expanding keeping its corporate vision and mission in mind. Tech Mahindra Gmbh which is a wholly owned German subsidiary of this company had earlier announced an agreement with BASF Business Services Holding GmbH to gain control over its subsidiary. The subsidiary in question was BASF Business Services Consult GmbH which takes care of business needs of third party clients of BASF Business Services Holding.
Tech Mahindra is currently focusing on acquiring firms in the US, UK and Australia for improving its infrastructure management operations. This corporate group’s operations span across a wide range of services. The company works in areas such as infrastructure lifecycle of plan-build-run-monitor and it comprises infra consulting, end user computing, enterprise security, transformation services and IT infrastructure management along with several other services.
Tech Mahindra has a bright future ahead of it if it looks to capitalize on gains in know-how and expertise. Apart from acquiring leading companies and progressive start-ups, it is aiming to attract the best talent and minds in the industry. It is aiming to become a company worth $5 billion by 2015. Its current moves indicate it is well on its way to achieve this target.
