Mindtree one of the largest software services company in India has made a deal with San-Diego based Kyocera to buy its indian Subsidiary Kyocera wireless India.
Mindtree would make an upfront payment of $6 million to buy this firm. The IT firm expects the acquisition to contribute about $9 million in revenues for the period Oct 2009 to March 2010, with profit after tax expected to be in the range of 13-15 percent. This acquisition makes Kyocera a major strategic client for MindTree. Kyocera wireless india (KWI) which is based in Bangalore will continue to provide engineering services to San Diego-based Kyocera Wireless Corporation (KWC) and other Kyocera entities on a contract basis after the sale. Mindtree had earlier acquired Aztec and added 2.5k employees to its fold. The indian subsidiary of Kyocera employs about 600 people. This increases the total employee count to more than 10k.
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