Tech Mahindra, a leading telecom IT services and solution provider has entered into an agreement to acquire US-based global Network Engineering services company Lightbridge Communications Corporation (LCC) for $240 M. The transaction is expected to bolster Tech Mahindra's position as the pre-eminent partner for network services globally.
The Virginia-based LLC's 5,000 staff in over 50 countries will be part of Tech Mahindra after the take over. LLC is said to have annual revenues of more than $400 million. According to a statement by Tech Mahindra, LCC has built 350 networks and designed more than 350,000 cell sites for over 400 customers worldwide.
The deal will add LCC’s network engineering and field services portfolio to Tech Mahindra’s network consulting, integration and operations services, enabling the company to offer a full range of network services to communications service providers.
Vineet Nayyar, Executive Vice Chairman, 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.
CP Gurnani, MD & CEO, Tech Mahindra
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.
Kenneth Young, CEO of LCC
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. 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.
