Tech Mahindra has signed a definitive agreement to acquire Lightbridge Communications (LCC) for $240 million, which positions the former as the pre-eminent partner for network services globally.
With annual revenues of more than $400 million, LCC has built 350 networks and designed more than 350,000 cell sites for over 400 customers worldwide.
The acquisition of LCC will strongly augment the systematic investments that Tech Mahindra has been making in its network services business over the last few years. Tech Mahindra’s network consulting, integration and operations services in conjunction with LCC’s network engineering and field services will enable the company to offer a full range of network services to both communications service providers (CSPs) as well as to the ecosystem of partners who cater to the communications sector.
Vineet Nayyar, executive vice chairman of Tech Mahindra, said this partnership is another significant step towards the globalization of the company as it absorbs a diverse workforce of over 5,000 network professionals across five continents and more than 50 countries.
“This acquisition is a defining moment for Tech Mahindra and the network services sector. We will now be the largest and most comprehensive provider of technology services to CSPs,” said CP Gurnani, managing director and CEO of Tech Mahindra.