Tech Mahindra acquires Zen3 Infosolutions, announces interim dividend

PUNE: Tech MahindraNSE -0.36 % has acquired Zen3 Infosolutions (America) for $44 million.

A further $22 million will be paid out after three years, based on performance.

The all-cash transaction is expected to close by April 1.

Zen3 is a software solution group with expertise in software product engineering, DevOps testing, machine learning, AI and analytics.

Tech MahindraNSE -0.07 % said in a filing to the BSE that the acquisition would bring strong capabilities in AI enablement services. This will also help it to bolster its enterprise application practice.

Tech Mahindra will acquire the Indian subsidiary of Zen Group – ZEN3 Infosolutions, while Tech Mahindra (Americas) Inc will acquire Zen3 Infosolutions (America) Inc.