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Tech Mahindra to merge two US-based subsidiaries
The appointed date of the plan of merger is April 1, 2024. “A Plan of Merger of Born Group, Inc., a wholly-owned step-down subsidiary of the Company with its parent company viz.
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NEW DELHI: IT services and consultation company Tech Mahindra said it plans to merge its two wholly-owned subsidiaries, Born Group and Tech Mahindra (Americas), to synergise business operations, optimise operational cost, and reduce compliance risks. The merger is subject to regulatory approvals in the country of incorporation.
According to a regulatory filing, the appointed date of the plan of merger is April 1, 2024. “A Plan of Merger of Born Group, Inc., a wholly-owned step-down subsidiary of the Company with its parent company viz. Tech Mahindra (Americas) Inc., a wholly-owned material subsidiary of the Company, has been approved by the respective companies on Friday, 22nd March 2024,” the company said.
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