$\"\"$ MUMBAI: Tech Mahindra<\/a> said it would buy financial technology firm Target Group<\/a> to boost its platform business process-as-a-service offering in the banking sector, in a deal valued at more than 112 million pounds.
\n
In a filing with the Bombay Stock Exchange<\/a>, TechM<\/a> said the deal had an enterprise value of 112 million pounds plus an adjustment for surplus cash of upto 8 million pounds.
\n
\nThe company will pay 64 million pounds upfront and a deferred consideration of upto 16.28 million pounds in 2017. TechM will also pay an amount of 17.1 million pounds on account of loan notes at closing.
\n
\nTech Mahindra said the Target Group’s proprietary platform automates complex and critical processing, servicing and administration of loans, investments and insurance.
\n
\n“This acquisition will make us a formidable player in the UK BFSI market with over 50 major financial institutions as clients. The acquisition lies at the confluence of several of our strategic priorities – add IP, double BFSI revenue and expand European footprint,” Tech Mahindra CEO CP Gurnani said in a statement.
\n
\n
\nUK-headquartered Target has 740 employees and the management team at Target will stay with the business and continue to have full operational responsibility. It had revenues of 51 million pounds in 2015.
\n
\nTarget’s management is also rolling over 7.6% of their equity value into the company, currently worth about 6.8 million pounds, which will be paid out in 2020 as a second deferred consideration. This consideration will be equal to 7.6% of the equity value of the company in 2020, depending on the performance of the company during 2017-2019.
\n
\nTechM is providing a corporate guarantee of not more than 30 million pounds in relation to the 2020 payout.
\n
This is TechM’s latest in a slew of acquisitions. It bought fabled Italian car design firm Pininfarina<\/a> in December. \n<\/body>","next_sibling":[{"msid":52478073,"title":"Taking wearable electronics to next level with fast, stretchy circuits","entity_type":"ARTICLE","link":"\/news\/taking-wearable-electronics-to-next-level-with-fast-stretchy-circuits\/52478073","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[],"msid":52478575,"entity_type":"ARTICLE","title":"Tech Mahindra buys UK fintech firm in deal valued at more than 112 million pounds","synopsis":"Tech Mahindra said the Target Group\u2019s proprietary platform automates complex and critical processing, servicing and administration of loans, investments and insurance.","titleseo":"telecomnews\/tech-mahindra-buys-uk-fintech-firm-in-deal-valued-at-more-than-112-million-pounds","status":"ACTIVE","authors":[{"author_name":"Jochelle Mendonca","author_link":"\/author\/479231167\/jochelle-mendonca","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479231167.cms?width=100&height=100&hostid=268","author_additional":{"thumbsize":true,"msid":479231167,"author_name":"Jochelle Mendonca","author_seo_name":"jochelle-mendonca","designation":"Assistant Editor - Enterprise IT","agency":false}}],"Alttitle":{"minfo":""},"artag":"ET Bureau","artdate":"2016-05-28 14:45:18","lastupd":"2016-05-28 14:47:06","breadcrumbTags":["Tech Mahindra","Bombay stock exchange","TechM","Pininfarina","Target group","Enterprise IT"],"secinfo":{"seolocation":"telecomnews\/tech-mahindra-buys-uk-fintech-firm-in-deal-valued-at-more-than-112-million-pounds"}}" data-authors="[" jochelle mendonca"]" data-category-name="" data-category_id="" data-date="2016-05-28" data-index="article_1">

Telecom乐动扑克News

Tech Mahindra购买英国fintech公司交易价值超过1.12亿英镑

Tech Mahindra说目标群体的专有平台自动化复杂和关键处理,维修和管理贷款、投资和保险。

Jochelle Mendonca,
等局

2016年5月28日更新02:47点是

孟买:科技马辛德拉表示,将收购金融技术公司目标群体提高商业银行业process-as-a-service提供平台,交易价值超过1.12亿英镑。

在提交给美国孟买证券交易所,TechM称,该交易的企业价值1.12亿英镑加上一个调整高达800万英镑的现金盈余。

该公司将支付6400万英镑的前期和延期考虑在2017年高达1628万英镑。TechM还将支付一笔1710万英镑的贷款在关闭笔记。

Tech Mahindra说目标群体的专有平台自动化复杂和关键处理,维修和管理贷款、投资和保险。

“此次收购将会让我们成为一个可怕的球员在英国BFSI市场与50多个主要金融机构客户。收购位于我们的战略重点的几点——添加IP,双BFSI收入和扩大欧洲的足迹,“Tech Mahindra CEO CP Gurnani在一份声明中说。

韩国的目标有740名员工和管理团队目标保持与业务和将继续有充分运作的责任。它在2015年5100万英镑的收入。

目标的管理也滚到公司超过7.6%的股权价值,目前价值约680万磅,在2020年将支付第二次推迟考虑。这就等于7.6%的公司股权价值的2020年,根据公司2017 - 2019年期间的性能。

TechM提供公司保证不超过3000万磅的2020奖金。

这是TechM最新一系列的收购。它买了传说中的意大利汽车设计公司印记12月。

发布于2016年5月28日02:45点坚持

$\"\"$ MUMBAI: Tech Mahindra<\/a> said it would buy financial technology firm Target Group<\/a> to boost its platform business process-as-a-service offering in the banking sector, in a deal valued at more than 112 million pounds.
\n
In a filing with the Bombay Stock Exchange<\/a>, TechM<\/a> said the deal had an enterprise value of 112 million pounds plus an adjustment for surplus cash of upto 8 million pounds.
\n
\nThe company will pay 64 million pounds upfront and a deferred consideration of upto 16.28 million pounds in 2017. TechM will also pay an amount of 17.1 million pounds on account of loan notes at closing.
\n
\nTech Mahindra said the Target Group’s proprietary platform automates complex and critical processing, servicing and administration of loans, investments and insurance.
\n
\n“This acquisition will make us a formidable player in the UK BFSI market with over 50 major financial institutions as clients. The acquisition lies at the confluence of several of our strategic priorities – add IP, double BFSI revenue and expand European footprint,” Tech Mahindra CEO CP Gurnani said in a statement.
\n
\n
\nUK-headquartered Target has 740 employees and the management team at Target will stay with the business and continue to have full operational responsibility. It had revenues of 51 million pounds in 2015.
\n
\nTarget’s management is also rolling over 7.6% of their equity value into the company, currently worth about 6.8 million pounds, which will be paid out in 2020 as a second deferred consideration. This consideration will be equal to 7.6% of the equity value of the company in 2020, depending on the performance of the company during 2017-2019.
\n
\nTechM is providing a corporate guarantee of not more than 30 million pounds in relation to the 2020 payout.
\n
This is TechM’s latest in a slew of acquisitions. It bought fabled Italian car design firm Pininfarina<\/a> in December. \n<\/body>","next_sibling":[{"msid":52478073,"title":"Taking wearable electronics to next level with fast, stretchy circuits","entity_type":"ARTICLE","link":"\/news\/taking-wearable-electronics-to-next-level-with-fast-stretchy-circuits\/52478073","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[],"msid":52478575,"entity_type":"ARTICLE","title":"Tech Mahindra buys UK fintech firm in deal valued at more than 112 million pounds","synopsis":"Tech Mahindra said the Target Group\u2019s proprietary platform automates complex and critical processing, servicing and administration of loans, investments and insurance.","titleseo":"telecomnews\/tech-mahindra-buys-uk-fintech-firm-in-deal-valued-at-more-than-112-million-pounds","status":"ACTIVE","authors":[{"author_name":"Jochelle Mendonca","author_link":"\/author\/479231167\/jochelle-mendonca","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479231167.cms?width=100&height=100&hostid=268","author_additional":{"thumbsize":true,"msid":479231167,"author_name":"Jochelle Mendonca","author_seo_name":"jochelle-mendonca","designation":"Assistant Editor - Enterprise IT","agency":false}}],"Alttitle":{"minfo":""},"artag":"ET Bureau","artdate":"2016-05-28 14:45:18","lastupd":"2016-05-28 14:47:06","breadcrumbTags":["Tech Mahindra","Bombay stock exchange","TechM","Pininfarina","Target group","Enterprise IT"],"secinfo":{"seolocation":"telecomnews\/tech-mahindra-buys-uk-fintech-firm-in-deal-valued-at-more-than-112-million-pounds"}}" data-news_link="//www.iser-br.com/news/tech-mahindra-buys-uk-fintech-firm-in-deal-valued-at-more-than-112-million-pounds/52478575">

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