Tech Mahindra Ltd.’s Board of Directors approved the merger of two wholly-owned subsidiaries—Tech Mahindra Cerium Systems Inc. (TMCS) and Tech Mahindra (Americas) Inc. (TMA). The merger, scheduled to be effective on February 20, 2025, is subject to regulatory approvals in the respective countries.
TMCS, established in 2014, operates in the semiconductor and embedded software services sector. It reported a turnover of USD 2.7 million for the financial year 2024. On the other hand, TMA, founded in 1993, provides IT consulting and management services across industries, with a turnover of USD 1,153.28 million.
This merger aims to streamline operations, reduce costs, and minimize compliance risks by consolidating these entities. Since both companies are wholly owned by Tech Mahindra, no cash consideration or share exchange is involved in the process. The shareholding pattern of Tech Mahindra remains unchanged.
