Tech Mahindra Ltd, one of India’s biggest IT services companies, has purchased US-based FixStream Networks, a big data analytics startup. FixStream Networks Inc, started only a year ago, already has large tech companies as its clients, including Cisco Systems, CenturyLink, and DirecTV. The 75% stake in the company was purchase for circa Rs 60 crore ($10 mil).
FixStream goes through massive amounts of data in data-centers to find new patterns and connections, which analysts expect to help Tech Mahindra drastically advance innovation and talent, among other areas. “We are always evaluating options and looking at startups,” said Aashish Washikar, Head of media relations for Tech Mahindra.
The trend of acquisitions in India is not expected to slow down any time soon. Just this month, Symphony Teleca, a US tech services company, acquired Aditi Technologies, a Bangalore-based company in a massive Rs 450-Rs 480 transaction. And experts predict that 40 or more technology based businesses in India could be purchased by larger multinational corporations within the next five years.
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