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.

EDITORIAL OF THE DAY

  • Right to reveal

    Delhi is India’s first state to announce a scheme for witness protection. But what about the witnesses in other states?

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Urs Schoettli

New masters of the Financial Times

A few days ago, Japan’s leading financial daily Nihon Keizai ...

Anuja Sharma

Focus mindfully to get the result

Have you ever tried to light a fire using the ...

Gautam Gupta

Our fashion schools need to notch it up

“Creativity is the key to success and primary education is ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture