Tech Mahindra Buys 75 Percent Stake in Fix Stream

Indian outsourcing firm Tech Mahindra has agreed to acquire 75% stake in US-based Big Data analytics firm Fix Stream Networks Inc (FSNI) for about US$10 million. The Pune, …

Indian outsourcing firm Tech Mahindra has agreed to acquire 75% stake in US-based Big Data analytics firm Fix Stream Networks Inc (FSNI) for about US$10 million.

The Pune, India-based BPO provider has stated the Fix Stream would develop “emerging technologies” for its clients. The news comes barely a month after the Indian firm added Managed Data Service (MDS) to its portfolio in North America.

With advancing technologies lessening the role of outsourcers, Indian BPO providers are increasingly acquiring smaller technology firms in an attempt to bolster their service portfolio.

Some of them are teaming up with larger technology firms to develop the technology their clients are looking for. Earlier this year, Tech Mahindra wrapped up a partnership deal with Texas Instruments to set up a lab in Bangalore, where it will develop solutions on the “Internet of Things.”

Founded less than a year ago by former Cisco employees Sameer Padhye and Abhinay Padhye, Fix Stream Networks makes tech solutions for Cloud services and data center management. According to Indian papers, Fix Stream counts large technology companies such as Cisco Systems, CenturyLink, and DirecTV among its customers.

“We make sense out of massive amounts of disparate data – to solve complex data center and cloud problems using a fraction of time and resources,” says the company in its website.

Analysts say Fix Stream assesses problems in data centers and then creates apps for fixing them. It has two offices: one in California and another in Bangalore.

Tech Mahindra was previously Satyam Computers, a Hyderabad-based IT outsourcing firm that nearly went bust after its founders admitted that they had manipulated its account books. Mahindra bought Satyam and changed its name and fortune.

Over the past years, Mahindra seems to have restored the confidence of its old clients; analysts say it is currently worth about US$2.9 billion.

Today Tech Mahindra’s service offerings revolve around the infrastructure life-cycle –  infra consulting, data center, end user computing, enterprise networking, enterprise security, IT infrastructure operation management and transformation services.

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