Tech Mahindra signs agreement with FIS, to acquire captive unit in Asia
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Last Updated: Jan 12, 2021, 07:14 PM IST
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As part of the agreement, Tech Mahindra will buy FIS subsidiary Payments Technology Services for $9 million.
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Tech Mahindra today announced a professional services agreement with FIS to scale its enterprise payments and banking capabilities.
The company will acquire Payments Technology Services, a subsidiary of FIS, for $9 million as part of the agreement. Based in Asia, Payments Technology Services is a payments solutions provider focused on the banking and financial services industries.
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Technuter
Tech Mahindra, a leading provider of digital transformation, consulting, and business re-engineering services and solutions, announced today a professional services agreement with FIS to scale its enterprise payments and banking capabilities. This agreement aligns with Tech Mahindra’s strategy to expand its BFSI (banking, financial services and insurance) footprint globally. In support of this strategy, Tech Mahindra will also build a state-of-the-art Centre of Excellence (CoE) in Chennai, India.
Tech Mahindra will also acquire Payments Technology Services Limited a subsidiary of FIS. Based in Asia, Payments Technology Services Limited is focused on serving the banking and payment needs of Asian financial services firms.