NEW DELHI, Sept 17 (Reuters) - Indian software services
provider Tech Mahindra has agreed to buy 51 percent of
Comviva Ltd., a mobile phone software maker, the company told
reporters on Monday.
The deal is valued at 2.6 billion rupees ($48.3 million),
and the promoters will retain a fifth of the company, Tech
Billionaire Sunil Mittal's Bharti Group, which controls top
telecoms carrier Bharti Airtel, is the biggest
shareholder in Comviva. WestBridge Capital, Sequoia Capital and
Cisco Systems Inc are the other investors.
Tech Mahindra, a unit of tractor and sports utility vehicles
maker Mahindra & Mahindra, earlier this month agreed
to buy Hutchison Whampoa Ltd's back-office call centre
business in India for $87.1 million.