Thursday, November 20, 2014

Tech Mahindra Expands in Network Services with LCC Acquisition

Tech Mahindra has agreed to acquire Lightbridge Communications Corporation (LCC), a leading provider of network engineering services, for approximately US$240 million. The acquisition expands Tech Mahindra's presence in network services globally.

LCC, which is based in McLean, Virginia, is the largest independent network services company worldwide and has played a key role in the engineering of over 350 networks.  The company has designed more than 350,000 cell sites for over 400 customers and has worked with all major access technologies (LTE, WiMAX, HSPA, EV-DO, CDMA, EDGE and GSM). LCC claims annual revenues of over $400 million and has some 5,000 employees in 50 countries.

Tech Mahindra is a US$3.4 billion company with 95,300+ professionals across 51 countries. It has deep expertise in software, consulting, integration and operations services.  The company, has been a leading provider of IT services to telecom operators since its founding, said this acquisition brings it new opportunities in network engineering at a time when many networks are going through significant transformation.  Tech Mahindra is aligned with major network equipment suppliers.

“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 Communications Service Providers. Our 25 years of rich experience in delivering technology solutions to enterprises and communications service providers globally will be significantly strengthened by this acquisition,” stated CP Gurnani, MD & CEO, Tech Mahindra.

“This partnership is another significant step towards the globalization of Tech Mahindra as we welcome a diverse workforce of over 5,000 network professionals across five continents and more than 50 countries. We expect network services to be a major growth engine for our organization,” stated Vineet Nayyar, Executive Vice Chairman, Tech Mahindra.

“Over three decades, LCC has grown to become the largest independent provider of wireless engineering services. Bringing LCC into Tech Mahindra will create the industry’s largest network engineering, deployment, and managed services organization,” said Kenneth Young, CEO of LCC. “Having Tech Mahindra’s breadth of services to provide advanced managed network services coupled with its size and scale, will help us increase the performance of our customers’ ever-evolving networks,” he added.