Tech Mahindra expands footprint in Saudi Arabia

Tags: News
Tech Mahindra has signed a joint venture agreement with Midad Holding, which is a subsidiary of Al Fozan, a pre-eminent group with diversified business interests in Saudi Arabia.

The joint venture will be called Tech Mahindra Arabia, it was announced here.

Tech Mahindra will have 51% ownership while Midad will own 49% stake in the joint venture.

Headquartered in Al Khobar, Tech Mahindra Arabia will also have presence across other major cities in Saudi and will be functional post the regulatory approvals.

The regional strength of Midad Holding and the global connectivity of Tech Mahindra will create a synergic value proposition for customers in Saudi Arabia.

"Saudi Arabia has been a focus market for Tech Mahindra and we are excited about the economic growth potential the region has. This joint venture will establish the company as a leading player in providing IT and ITeS solutions," CP Gurnani, MD and CEO, Tech Mahindra said.

Tech Mahindra has a significant presence in Saudi Arabia since 2006 where it provides solutions to its global and local customer base.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Steps towards transparency in the real estate sector are long overdue

    Searching for black money in India’s real estate sector, which constitutes 11 per cent of the country’s $ 2 trillion GDP, is like searching for th

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Varun Dutt

Reaping from the core of the earth

Geothermal energy is energy generated from inside the earth’s crust. ...

Zehra Naqvi

For the love of language

A video doing the rounds in social media these days ...

Dharmendra Khandal

‘Poop’ coffee anyone? If civets suffer, so be it

That a drink which proudly associates itself with animal poop ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture