Tech Mahindra has signed a joint venture agreement with Midad Holding, which is part a preeminent group with diversified business interests in Saudi Arabia.
The JV will be called Tech Mahindra Arabia, in which Tech Mahindra will have 51% ownership while Midad will own 49% stake.
Headquartered in Al Khobar Tech Mahindra Arabia will also have presence across other major cities in Saudi and will be a functional post for the regulatory approvals.
“This joint venture will establish the company as a leading player in providing IT and ITeS solutions. Additionally it will also provide exciting career opportunities for the talented men and women in Saudi region,” said CP Gurnani, managing director and CEO of Tech Mahindra.
The solutions would aim to provide services in the areas of consulting, application development and management, network services, integration, engineering, managed services, remote infrastructure management, operational and maintenance services and business process outsourcing.